Implementation of Banking Union to be Postponed

Politics ♦ Published: September 17, 2012; 21:04 ♦ (Vindobona)

Initially, the Commission of the EU intended to introduce the banking union in 2013. After the fierce resistance of some member states, the Commission gives up its plans for the time being.

Implementation of Banking Union to be Postponed / Picture: © Vindobona.org

According to the Commission, the banking union should contain a centralized supervision authority. Moreover, the deposit protection and the restructuring rules should be unified. As a first step, the competence of ECB should be enlarged, the Commission proposed. ECB becomes a centralized financial market authority for the big banks in the Eurozone. In total, 6,000 banks with assets…

or Log In

Fast News Search
Related News
Poland Rejects Joining Banking Union (September 17, 2012)
Banking Union: Austrian FMA Wants to Integrate Eastern European Countries (September 13, 2012)
„Banking Union Must Not Become Burden for Real Economy“ (September 13, 2012)
Bank Union: Austrian Banking Industry Cautious (September 1, 2012)
Pribil: „ECB Must Not Become Safe Haven for Zombie Banks” (August 31, 2012)
Read More
Banking Union, Germany, Brussels, Poland, Eurozone, Banking Industry, Helmut Ettl, Kurt Pribil, Ewald Nowotny, FMA Financial Market Authority, ECB European Central Bank, OeNB Austrian National Bank, Monetary Policy, Jacek Rostowski, Wolfgang Schaeuble
Featured
See latest Vindobona Newsletter