Euro Area summit statement

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A statement on the financial stability of the Euro Area was released on Friday, 29 June, in Brussels.  “We affirm that it is imperative to break the vicious circle between banks and sovereigns. The Commission will present Proposals on the basis of Article 127(6) for a single supervisory mechanism shortly. We ask the Council to consider these Proposals as a matter of urgency by the end of 2012.” Full text.