Banking Union: ECOFIN and Parliament ready to compromise

The absolute necessity to conclude before May the trilateral negotiations on the functioning of the Single Resolution Mechanism (SRM) for failing banks and clarify the role of the Intergovernmental Agreement (IGA) (in relation to the control and the use of the Single Resolution Fund), united yesterday all the representatives of three decision-making bodies of the […]

Berlin cannot dictate anymore the terms for the enactment of the European Banking Union

Last Friday 8 November, the European Central Bank (ECB) published its opinion on the Single Resolution Mechanism (SRM) and Fund, fully supporting the European Commission’s position on their enactment, needed to accomplish the European Banking Union. The opinion is in direct contrast with the positions held by Germany, because it contains the following three essential […]

The Social Committee may accept the new ‘contractual’ Eurozone

The European Economic and Social Committee (EESC), representing employers, workers and other interest groups, issued yesterday a Press release urging for the creation of the Banking Union and the establishment of a uniform bank resolution procedure. Obviously the leadership of the EESC, after reading the conclusions of the last EU summit of 24-25 October and […]