Banking Union fails to fly
MADRID | By JP Marín Arrese | Depriving the ECB of the capacity to deal with ailing entities does undermine its authority as a supervisor in a Banking Union.
MADRID | By JP Marín Arrese | Depriving the ECB of the capacity to deal with ailing entities does undermine its authority as a supervisor in a Banking Union.
BARCELONA | CaixaBank research | The German proposal for an alternative Banking Union are destined to fail: mere cooperation between national authorities would not guarantee that decisions are taken in the interest of Europe’s financial system as a whole.
BRUSSELS/MADRID | Barroso took advantage of the Spanish president’s presence to push for an agenda Berlin still feels reticent about: the European Banking Union.
MADRID | By JP Marín Arrese | Unless financial solidarity is well entrenched, the Banking Union’s effectiveness ranks close to zero.
MADRID | The day will come when we’ll need to calculate the costs of having Chancellor Angela Merkel re-elected, and having her making decisions about the European Union as though only Berlin deserved to be heard and obeyed.
BRUSSELS | By Alessio Pisanò | UK Chancellor George Osborne said limits on bankers bonuses will make it more difficult to ensure that the banks and the bankers pay when there are mistakes. Nevertheless, no one else in the EU stood by him.
BARCELONA | By CaixaBank analysts | It is necessary to advance towards banking and fiscal union. Without it, the eurozone–particularly periphery countries–will not be able to face the numerous challenges still ahead.
By Miguel Ángel Rodríguez, XTB analyst | The toxic assets aren’t just linked to real estate and construction companies, but to sovereign debt holdings, too. Which is why, without a Banking Union the whole euro nightmare will repeat itself.
A eurozone’s press review of the coverage about the banking union project gives a crystal picture of the mess: the division is growing between Germany’s position and the rest of its currency area partners.
Don’t expect a single penny to be spent on banking restructuring processes for a long time to come, a nasty prospect for neighbours anxiously awaiting the common supervision agreement to clean up their messy financial industry.