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All along the years after the 2008-2010 financial crisis, which in the European Union took the form banking/government debt breakdowns starting with Greece, there were cries for the creation of a solid Eurozone. In every respect, these calls amounted to demands that super prosperous Germany accepts some degree of risk-sharing with the rest of the […]
The year that just ended was rather nasty to the European Union and the New Year 2016 won’t be any better. The economic, financial and political problems culminated to the migration crisis in the second half of 2015, with Greece implicated in more than one of the abovementioned predicaments. The lagged reaction of Brussels to […]
The completion of European Banking Union project last month, the most important undertaking of the EU after the introduction of the common euro currency, is undoubtedly the result of a long negotiated compromise, and as such it has many drawbacks. Firstly, it doesn’t recognize the fact that Eurozone’s mega-banks were the main culpable party for […]
The European Parliament prepares for the fight which is about to begin with the Council, over the negotiations on the creation of the Single Resolution Mechanism and Fund to deal with failing banks. This will be the last step towards the completion of the European Banking Union, the major EU project after the introduction of […]
The most valuable asset of Eurozone households, their homes, continue losing large parts of their value in this unending economic crisis, which has brought to knees more than half of euro area countries. It’s a tragic combination. People after losing their jobs watch their homes to lose value every day, and if they have a […]
If what the President of the European Central Bank, Mario Draghi, said yesterday to EU’s legislators is read together with the inspired speech the European Commissioner Michel Barnier, delivered in Rome’s Palazzo Farnese (the French embassy in Italy), then the conclusion is that the European Union cannot be a source of problems as the extremists […]
Last week the President of the European Council Herman Van Ropmuy went to Rome, to meet the Italian Prime Minister Enrico Letta. This was a very significant move by the EU Council President. Italy is the third largest economy of Eurozone with large and more or less competitive private sector productive structures in manufacturing, services […]
Michel Barnier the European Commissioner responsible for the Internal Market and Services in a clear-cut way broke yesterday Commission’s silence and joined the European Central Bank’s approach, over the creation of an effective European Banking Union, able to guarantee that failing or about to fail banks will be duly resolved or managed by one central […]
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