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ECB welcomes EU Commission bank supervision proposal

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FRANKFURT, Sept 12 | Wed Sep 12, 2012 6:00am EDT

FRANKFURT, Sept 12 (Reuters) - The European Central Bank said on Wednesday it welcomed the European Commission's proposal for establishing a single banking supervisor in the euro zone.

"The proposal ... is an important step towards laying the foundations of a financial market union with the view to ensuring financial stability in the euro area and the European Union," the ECB said in a statement. (Reporting by Sakari Suoninen)

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