European Council President Herman Van Rompuy will propose a plan to create a banking union controlled by the European Central Bank, the Italian newspaper Il Sole 24 Ore reported, without saying how it got the information.
The plan also includes a proposal to create a fund to manage banking crises, the newspaper said.
EU leaders are due to meet from June 28 to June 29, and a key issue on the agenda will be a long-term plan for more fiscal and banking integration. Van Rompuy is due to unveil the draft plan this week.
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