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The European Central Bank will have to recruit 800 new staff to take charge of the supervision of Eurozone banks.

This number of staff “should be enough initially because the ECB will do the bulk of the supervision work on only about 30 of the largest banks” in Europe, explains the daily.

"For the remainder of the 150-200 banks the ECB will initially be given responsibility for, work will be split between ECB staff and national supervisors."