ECB must supervise all banks, avoid dual system: France's Moscovici

Published December 04, 2012

| Reuters

The European Central Bank must police all banks in a new supervisory system and avoid a two-tier approach, France's Finance Minister Pierre Moscovici said on Tuesday.

"We have no remit for a dual system of supervision which would call into question the existence of a single system for some banks," Moscovici said in a publicly-aired exchange of views with fellow EU finance ministers in Brussels.

"The ECB must supervise all banks with a European passport," he said.

(Reporting by Robin Emmott and John O'Donnell. Editing by Sebastian Moffett.)

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