Non-systemically important banks are Europe's "real" problem - and that is why even the smallest bank in the euro zone must be under European Central Bank (ECB) supervision, Michel Barnier, the European Commissioner for Internal Market and Services, told CNBC.
Speaking on Monday at the Ambrosetti Forum, an annual international conference held on the shores of Lake Como in Italy, Barnier rejected German Finance Minister Wolfgang Schaeuble's view that the ECB should focus only on the euro zone's largest banks.
(Read More: Germany in Row With Brussels Over Banking Supervision)
Barnier named U.K. bank Northern Rock, Spain's Bankia and Franco-Belgian Dexia (Euronext Brussels: DEXB-BE) as "non-systemic" banks that still cause "real problems."
(Read More: Spain's Bankia to Get Up to 5 Billion Euro Capital Injection)
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