Goal is accord on centralized agency to deal with failing banks

European finance ministers are beginning two days of emergency meetings aimed at achieving agreement on more centralized control over banks.

Ministers from the 17 countries that use the euro currency began gathering in Brussels on Tuesday evening for talks. On Wednesday, they will be joined by ministers from the 11 other European Union nations.

The main goal is reaching an accord on a centralized agency and fund for saving or shutting down troubled banks in euro-using countries. EU leaders want to have a deal in hand by the end of the month.

On Monday, European Central Bank President Mario Draghi expressed concern over how the talks on centralized banking controls are proceeding, saying the plan developed so far by the ministers must be less complex and have more funds behind it.