Tag: banking union

As European Commission President José Manuel Barroso prepares for what could be his last State of the Union speech in Parliament next week, he has exchanged views with MEPs, exuding what participants say was an air of triumphalism over the Commission's handling of the eurozone crisis.

Having managed to reach deals on banks and the long-term budget, EU leaders have started their two-day summit somewhat relieved, as they embark on talks to tackle youth employment, finance much-needed investments and boost growth. EurActiv obtained the draft conclusions. Read our live coverage, below.

Bankers called yesterday (23 May) for faster implementation of the proposed banking union in Europe, saying the delay is stalling the region's recovery and hampering its financial sector.

Lithuania, the tiny Baltic country that will take over the rotating EU presidency on 1 July, will have to deal with extremely heavy dossiers, such as the adoption of the 70 items of legislation needed to implement the EU budget for the next seven years, as well as preparation for the Eastern Partnership summit, diplomats told EurActiv.

Having stirred a controversy by saying that the Cyprus bailout was a template for resolving banking problems in the Union, Eurogroup chief Jeroen Dijsselbloem said on Tuesday (26 March) there were no apparent signs of increased withdrawals of savings within the single currency zone. 

Finance ministers reached agreement early today (13 December) on the basic mechanism for a single supervisory authority over eurozone banks – the key first step to a banking union.

EXCLUSIVE / EurActiv France has obtained a copy of the draft conclusions of the EU summit in Brussels on 13-14 December. Plans to complete the legal framework for a European banking union are partly delayed until 2013. And the debate over deepening economic and political integration in the eurozone - including changing the EU treaties - will not take place until after the 2014 European elections.

An impasse over plans for the European Central Bank to supervise banks takes centre stage today (12 December) at a finance ministers' meeting that precedes the EU leadership summit on Thursday and Friday.

Germany and France have publicly clashed over plans to put the European Central Bank (ECB) in charge of overseeing all banks in Europe, including Germany's local banks or Sparkassen. However, as negotiations continue, policymakers have acknowledged that a "one-size-fits-all" approach might not be suitable.

EU finance ministers preparing to meet in Brussels today (4 December) were close to striking a deal on a single European bank supervision system, keeping the proposed new banking union machinery on track to be in place by the start of 2013, EU officials said.

The EU is struggling to agree plans for the European Central Bank to police lenders from next year, according to a document seen by Reuters on Wednesday (28 November) that flagged British demands for what many see as a veto over the scheme.

Divisions in Europe over a new regime to supervise banks overshadowed fresh attempts by EU finance ministers yesterday (13 November) to agree a centrepiece reform that some officials fear could unravel.

A 16-hour EU leadership summit ended on Friday (19 October) with the announcement of what is expected to be another marathon meeting of heads of state and government in November, when concrete figures for the 2014-2020 budget will be discussed for the first time.

French President François Hollande has put the brakes on a German-backed "political union", saying it should only be considered after the 2014 European elections and could not happen before there is agreement on creating banking and "social" unions.

Banks should separate deposit banking from trading and other high-risk investment to shield taxpayers from further bailouts and protect savers, an EU advisory group said on Tuesday (2 October).

Eurozone outsider Denmark may be compelled to join a proposed European banking union if it succeeds in boosting the credibility of euro area banks, said the head of the Danish central bank, Nils Bernstein.

Proposals to be published today (12 September) on creating a European banking union face months of blockage if non-eurozone countries’ demands are not met, officials have warned.

Blueprints for a European banking union to be published on Wednesday (12 September) will trigger fevered debate over the powers of the European Central Bank (ECB), if a draft leaked late last week remains unchanged.

Failure to create a deeper eurozone union would represent an enormous problem for banks, the head of Italian bank Monte dei Paschi di Siena said yesterday (27 August).

The European Commission is aiming to present its banking union plan by September 11, in a bid to contain the euro crisis that has prompted several EU countries to seek bailout to finance their banks, EU officials reportedly said on Monday (6 August).