The Estonian government supports creation of a European banking union where the first step is the common euro area banking supervision mechanism, LETA/Public Broadcasting reports.
Initially it concerns euro area states' banks but according to finance minister Jürgen Ligi, in the future banks from outside euro area that operate in Estonia can most likely also join the banking union.
Estonian Prime minister Andrus Ansip said that an institution evaluating banks in a tough and unbiased way is certainly in Estonia's interests.
"Our own affairs are very much in order and we wish that there was a European institution that would supervise all European banks. And that institution should have very strong powers. Banks cannot have the feeling that they would be saved anyway," said Ansip.