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The Boston Globe


Europe central bank chief urges single-bank bailout fund

FRANKFURT — The European Central Bank president, Mario Draghi, is urging eurozone leaders to move ahead quickly and put the central bank in charge of supervising banks — a key step in overcoming the continent’s crisis over too much government debt.

Draghi said the central bank should be permitted to start organizing its supervisory activities from Jan. 1, as laid out in the original proposals from the European Union’s executive commission.

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