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.
Spain will hold off on selling more of its controlling stake in lender Bankia until the results of Europe-wide bank stress tests in October, Economy Minister Luis de Guindos said in an interview published on Sunday.
The European Union’s banking supervisor did not have the staff or powers to successfully stress-test EU banks’ resilience to financial shocks, according to a European Court of Auditors’ report published yesterday (2 July).
New debt relief measures for Greece will be discussed Monday (5 May) by euro area finance ministers, the European Commission confirmed as it presented a spring economic forecast showing gradual growth across the EU.
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.