A New Year’s Banking Union
In June, European heads of state and government committed themselves to the creation of a single European supervisor for banks in the eurozone. Now they have to resolve several remaining questions in order to establish Europe-wide bank supervision by January 2013.
https://prosyn.org/B64Rt76
BRUSSELS – Five years after the outbreak of the financial crisis, Europe’s economic and political situation remains fragile. A mild recession is expected in Europe this year, and unemployment is on the rise. Beyond deficit reduction, we need to implement a €120 billion ($155 billion) European investment plan, and deepen the European Single Market to unleash its growth potential.