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Uher: “Banking Union in Eurozone Great Danger“

Published: August 30, 2013; 18:25 · (Vindobona)

Thomas Uher, member of the board of directors at Erste Bank, warns of a banking union that is only limited to the Eurozone.

Uher: “Banking Union in Eurozone Great Danger“ / Picture: © Erste Group Bank AG

At Forum Alpach’s financial market talks, member of Erste Group’s board of directors Thomas Uher has warned of a banking union which is limited to the Eurozone only. “A Euro banking union is a great danger. We need a European one,” he said Friday afternoon. Erste Group was a Central and Eastern European bank, not only an Austrian any more. Uher expressed his hipe that there will be a possibility of “opting-in”

The banking union, however, will not change the fundamental problems of the European Union. “We need a political not a technocratical discussion about the future of the union,” Uher said. In the discussion, former Governor of the European Central Bank (ECB) Gertrude Tumpel-Gugerell pointed out that a banking union would not trigger a political union. According to her, institutions would not solve the crisis alone.

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