A new report by the Danish Ministry for Justice presented on Thursday (30 April) concludes that Denmark won't be giving up sovereignty by joining the EU's banking union. This means the country can proceed without having to first hold a referendum.
Deep divisions between political groups in the European Parliament are set to sink reforms aimed at preventing banks from being “too big to fail”, a key political objective following the 2008 financial crisis.
The European Commission Tuesday (21 October) issued rules for calculating the contributions of banks to national resolution funds and a proposal for banks contributing to the banking union’s Single Resolution Fund that would see largest banks hardest hit.
The European Commission opened an infringement procedure against Bulgaria on Thursday (25 September) following the decision of two failed banks to deny clients access to deposits of up to €100,000, which are guaranteed under EU law.
The European Union must shift more of the cost of a new rescue fund for banks onto the region's biggest lenders, lawmakers told the outgoing commissioner for Internal Market and Services Michel Barnier yesterday (22 September).
After years of resistance to plans for a European banking union, Germany has switched gear and has now decided to implement the EU rules one year in advance of schedule, sending alarm bells ringing among the country’s top banks and the Monopolies Commission. EurActiv Germany reports.
Paris has long backed the idea of an across-the-board harmonisation of EU member states' tax systems. According to French government advisors, this must begin by a common tax base for the European banking sector, EurActiv France reports .
The euro zone's bailout fund, the European Stability Mechanism, could directly invest in a troubled bank next year, after 8% of the bank's total liabilities are written off, the chairman of eurozone finance ministers said on Monday (5 May).
Europe’s financial markets are still feeling the effects of the crisis despite progress towards greater stability, according to two reports published Monday (28 April) by the European Central Bank and European Commission.
The French Commissioner for Internal Market and Services, Michel Barnier, published a book titled Se reposer ou être libre (to rest or to be free) on 17 April. He spoke with EurActiv about reforming the European banking system.
European policymakers on Thursday (20 March) agreed to complete a banking union, creating an agency to shut failing eurozone banks. However, there will be no joint government back-up to help cover the costs of closures.
The European Union is considering ways to ensure that a future eurozone fund to finance bank closures will always have enough cash, including the option of halving the time in which the fund would reach its full size to five years.
As EU leaders gather in Brussels for the last EU summit of the year, german Chancellor Angela Merkel said that recent development in Ukraine 'it fills us with great respect', referring to the thousands of Ukrainians that braved freezing temperatures in Kiev to protest against President Viktor Yanukovich's government.
As EU leaders gather in Brussels for the last EU summit of the year, MEPs gave their assessment on the discussions from the meeting. Heads of state and government are meeting in Brussels on 19 and 20 December to discuss issues such as security and defense and the economic and monetary union.
As EU leaders gather in Brussels for the last EU summit of the year, European Commission President Jose Manuel Barroso welcomed the political agreement reached by EU finance ministers on the Banking Union plan, adding that 'it was supported politically by the European Council'. 'While the Commission would have preferred the system based fully on the community approach, we welcome the important progress made by the Council. It is a sound basis for the negotiations with the European Parliament.' Barroso said.
EU leaders meeting in Brussels late last night hailed the agreement on a pan-European banking union, the final details of which were ironed out by finance ministers meeting yesterday, but anticipated arduous negotiations with the European Parliament. They however failed to agree so-called "contractual arrangements" designed to push member states to reform their economies.
As EU leaders gather in Brussels for the last EU summit of the year, European Parliament president Martin Schulz said in a press conference that Kiev's decision to side with Russia is a 'short-term' choice. 'The doors should be opened for Ukraine', Schulz added.