Banking Union: Poland Demonstrates Skepticism

Politics ♦ Published: September 13, 2012; 19:33 ♦ (Vindobona)

Yesterday, the EU-Commission has made proposals regarding the banking union. The decision making process for non-Eurozone members would be unclear.

Banking Union: Poland Demonstrates Skepticism / Picture: © Flickr

Wojciech Kwasniak, director of the Polish financial market authority KNF is skeptical on the banking union. Kwasniak fears that countries outside the Eurozone cannot participate in the decision making process on an equal basis. Moreover, Polish banks could not ask for ECB assistance or capitalization by the ESM, he said.

The banking union should start in 2013. According to the…