The euro is flat in the opening forex trading session this morning (December 13th), as European finance ministers reach a deal on rules for supervising eurozone banks ahead of a crucial summit of European Union (EU) leaders.
Some 200 of the biggest banks of the region will fall under the supervisory gaze of the European Central Bank (ECB), which will act as the main overseer of these institutions.
"Piece by piece, brick by brick, the banking union will be built on this first fundamental step today," EU Commissioner Michel Barnier stated.
New rules on prudent banking are considered to be key in fortifying the single currency, as failures within the sector triggered the financial crash that has wounded the 17-member bloc.
The measures are also aimed at preventing banking failures ending up on the books of the eurozone's governments, leading to taxpayers footing the bill.
At 08:30 GMT, the euro appreciated by 0.2 per cent in trading with the pound to €1 buying £0.811, while it rose by 0.1 per cent versus the dollar to $1.309.
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