EU joint response to disasters: deal reached with Council

This article is brought to you in association with the European Parliament. The aim of the new legislation, agreed on Wednesday, is to help member states to respond faster and more effectively to natural and man-made disasters, by sharing civil protection assets more efficiently. RescUE The draft law would also set up, upon Parliament’s request, a […]

Why is Grexit again in the news? Who is to pay for Eurozone’s banking problems?

Grexit, Greece’s exit from the euro area, is back in the news – for the wrong reasons. During this past week, the country’s creditors, the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund, finally agreed amongst themselves to set even tougher conditions in order to continue refinancing the […]

Deutsche Bank: the next financial crisis is here and the lenders need €150 billion from taxpayers

Last Monday David Folkerts-Landau, the chief economist of Deutsche Bank, the ailing largest lender of Germany, in an interview with the prestigious newspaper ‘Die Welt’ stated that European banks must be subsidized with €150 billion in rescue money to recapitalize. Obviously, it will be the taxpayers to once more provide the capital the euro area […]

More taxpayers’ money for the banks

Within 24 hours, after the European Sting published on Thursday an article entitled, “Fair completion rules and the law of gravity don’t apply to banks”, and the responsible EU Commissioner Joaquín Almunia, Vice-President of the EC blessed as legitimate the rescue of the Dutch bank and insurance company SNS REAAL by the country’s exchequer with […]

Eurozone bank rescues ‘a la carte’ until 2015 then only bail-ins

The fact that the Eurozone does not have a standard procedure to deal with failing or about to fail banks and the national bankruptcy laws of the 17 member states are far from offering a relevant solution, has prompted the two most competent persons in the Union to describe the way such dealings will be […]