Last Tuesday the European Commission aired a groundbreaking proposal, about the creation of a euro-area wide insurance scheme for bank deposits. In this way the European Banking Union will start having a meaning for the average European. It’s a plan for a European Deposit Insurance Scheme (EDIS) which is meant to complete the Banking Union […]
Germany objects to EU Commission’s plan for a Eurozone bank deposits insurance scheme but Berlin could go along
Bank resolutions set to remain a national affair
Negotiations over the drafts of three key directives destined to mark the future of Eurozone, namely the Bank Recovery and Resolution Directive, the Bank Deposits Guarantees Schemes and the Single Resolution Mechanism remain so elusive, that every minister of Finance when leaving Brussels last Tuesday night set the focus on what his or hers home […]
Italy’s Letta: A European Banking Union soon or Eurozone collapses
While the European Council of the 27 EU leaders has only ‘energy’ and ‘taxation’ in its agenda today, with poor results expected on both accounts, the hot issue of the European Banking Union will probably consume most of the time in the side meetings. The enactment of the EBU has become now the main point […]
Germany openly seeks more advantages for its banks
The Commission proposal for a Bank Resolution and Recovery Directive divided deeply the Ecofin council in its yesterday’s Brussels meeting. Again the division took the form of North versus South or rather Germany & Co against everybody else. Mr Wolfgang Schauble, the German Federal Minister for Finance, insisted that the line of funds to be […]