Bank Union: Austrian Banking Industry Cautious

People ♦ Published: September 1, 2012; 16:11 ♦ (Vindobona)

European Forum Alpbach: In mid-September, the EU Commission will present its plans regarding the bank union. The bank union should not be implemented too fast, the Austrian Financial Market Authority says.

Bank Union: Austrian Banking Industry Cautious / Picture: ©

In order to continue “the stabilization of the euro”, the EU-Commission wants a bank union. This bank union should contain a bank liquidation funds, a bank supervision authority and a deposit protection funds.

At the European Forum Alpbach, Bank Austria´s CEO Willibald Cernko explained that this package of measures should be developed gradually in the next…