EU Demands € 55bn for Banking Union

People ♦ Published: December 9, 2013; 15:09 ♦ (Vindobona)

The Finance Ministers of the European Union are still negotiating about a mechanism aimed at preventing states from having to take over financial difficulties from banks, the banking union.

EU Demands € 55bn for Banking Union / Picture: ©

Yesterday it became known that the European Union claims around € 55bn from the banks for the banking union’s respective fund so that the winding-up of financial institutes could be paid by themselves instead of the states. However, it is still unclear if all 6,000 banks need to contribute to the fund or just the 130 major banks, which are subject to the new central…