Germany rules the banking industry of Eurozone

Last Tuesday the European Parliament approved the appointment of the Single Resolution Board members. European Sting readers may recall that some months ago this Board emerged as the most powerful institution in Eurozone’s banking sector. Its powers were established by the final agreement between the European Parliament, the European Council and the Commission which instituted […]

Resolving banks with depositors’ money?

Tomorrow’s Ecofin council, marking the last 2013 meeting of the 28 EU ministers of Finance, constitutes the final opportunity of the member states to strike an agreement in order to finalise the construction of the European Banking Union. What is still missing for the establishment of the EBU is of course the full Single Resolution […]

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 […]