Italian banks: It’s Rome’s turn to confront Berlin’s aggressiveness

Italy, after Greece, is now the next target of the archetypical Teutonic aggressiveness, aimed this time at making the life difficult for Paolo Gentiloni the new Prime Minister. The problems Rome has with the country’s banking system are being exaggerated and used by Berlin to either pave the road leading outside the euro area or […]

Draghi, Letta: All Eurozone countries must be able to borrow like Germany

The reduction of European Central Bank’s basic rate from 0.75% to 0.5 % was the less important news from Bratislava, Slovakia, yesterday where the governor of the central bank, Mario Draghi, presented the decisions of the bank’s Governing Council and answered questions from journalists. Not even the possibility of a new interest rate cut soon […]

ECB asks for more subsidies to banks

The European Union authorities have so far bestowed hundreds of billions of EU taxpayers’ money to the European Stability Mechanism and the European Financial Stability Facility of a total value of at least €700 billion, to be used to bailout banks and not only. As if those practically unlimited resources were not enough to secure […]

EU Parliament semi worried over democratic deficit

Yesterday at the European Parliament in Brussels, during the closing session of the Parliamentary week devoted to the European Semester (EU economic governance – fiscal treaty), a joint group of EU parliamentarians and members of national parliaments concluded, that the under construction closer economic and monetary union calls for more democratic control. The MEPs and […]

The new European Union of banks is ready

Yesterday, José Manuel Durão Barroso, President of the European Commission, speaking in a farewell ceremony to honour the Cypriot Presidency of the European Union during the second half of 2012, made clear that the Commission has made the creation of the Single Supervisory Mechanism (SSM) for the EU banks as its utmost priority and will […]