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Banking union
Summit achieves minor progress on banking union deposit scheme
Est. 4minGerman chancellor Angela Merkel reluctantly accepted on Friday (18 December) giving a green light to start discussions on the European deposit insurance scheme, the remaining part of the banking union.
More infringement procedures for Italy
Est. 3minTwo new infringement procedures have been opened against Italy by the European Commission, which has also taken further action in three cases that are already active. EURACTIV Italy reports.
Commission aims at having full European deposit insurance scheme by 2024
Est. 3minBank deposits within the EU up to 100,000 euros, no matter which bank or country they are in, should be guaranteed by 2024 by a European fund, the European Commission proposed on Tuesday (24 November).
A year on, challenges remain for Europe’s single banking supervisor
Est. 5minA year after it took up its duties as Europe's banking watchdog, observers say the Single Supervisory Mechanism is doing a good job, but challenges nevertheless remain.
Juncker and Draghi fail to win support for eurozone reform
Est. 5minThe piecemeal approach orchestrated by Jean-Claude Juncker and Mario Draghi to address the root causes of the euro zone debt crisis and complete the Economic and Monetary Union (EMU) has not yielded any positive results so far, EURACTIV.com has learned.
Berlin and London play hardball in shaping vision for the EMU
Est. 5minThe eurozone's rulebook and its anti-crisis mechanisms have been bolstered since the sovereign debt crisis hit Europe at the end of 2009. But serious risks still loom large, as growth potential remains low and the bloc's governance framework is “not fit for purpose”, Benoît Cœuré said after a meeting of EU finance ministers this weekend (12 September).
Denmark announces plan to join EU banking union
Est. 4minA 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.
Lawmakers fail EU plans to split up large banks
Est. 3minDeep 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.
Bank resolution authority set for launch
Est. 3minThe Single European Mechanism (SRM) will be launched over the next three months, with the aim of rescuing or winding up stricken banks with minimal recourse to taxpayers’ money.
Largest banks to pay most in resolution plan
Est. 3minThe 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.
Bulgaria feels the heat for failure to respect guaranteed deposits
Est. 4minThe 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.
MEPs insist banks should finance their own rescue fund
Est. 4minThe 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).
Germany pushes early adoption of EU banking union rules
Est. 3minAfter 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.
Common EU tax system should start with the banking sector, French advisors say
Est. 3minParis 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.
EU leaders set vague ‘priorities’ for next five years
Est. 3minEXCLUSIVE/ At the 26-27 June summit, EU leaders will adopt a four-page strategic blueprint which outlines the big political priorities for the next five years. EURACTIV has read the draft document.
![Klaus Regling (Left), CEO of the European Stability Mechanism, and Jeroen Dijsselbloem, President of the Eurogroup in Brussels on 5 May 2014 [Photo: Council of the EU]](https://www.euractiv.com/wp-content/uploads/sites/2/2014/05/jeroen_dijsselbloem_may_2014.jpeg)
Eurozone set for direct bank recapitalisation in 2015
Est. 4minThe 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).
German banks face tripling of EU bailout fees
Est. 3minPlans being considered for a new European bank restructuring fund would see German banks pay in about €1.9 billion a year, banking and government officials said on Monday (28 April).
Europe’s markets still feeling effects of financial crisis
Est. 2minEurope’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.
ECB finalises euro zone bank rules
Est. 1minThe European Central Bank has today (25 April) finalised rules giving it wide-ranging powers over euro zone banks, including the right to demand they increase their capital buffers.
EU negotiators reach deal to complete banking union
Est. 2minEuropean 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.
Europe inches closer to deal on bank resolution fund
Est. 5minEuro zone governments edged closer on Monday (10 March) towards a deal on how to wind down failing banks. More negotiations will take place on Tuesday to address demands of the European Parliament.
Schäuble: ‘We are ready to speed up’ EU bank rescue fund
Est. 4minThe 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.
Leaders hail banking union, anticipate fight with Parliament
Est. 4minEU 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.
Summit to put finishing touches on scheme to close failing banks
Est. 5minThe European Union edged closer to agreeing a scheme to close failing banks but will leave big gaps in a wider reform that was supposed to unite the eurozone behind its troubled lenders.