BREAKING NEWS

Now Reading:

Eurozone banking union close, but still stuck on details


economy

Eurozone banking union close, but still stuck on details

Eurozone finance ministers say they have created a framework for a banking union for the single currency bloc and reached a political understanding about who pays what but it will not be signed until their meeting next week.

Officials said the ministers need to work out many details before they can sign the final version of the reform that’s needed to underpin confidence in the region’s lenders.

They meet again next Wednesday.

The banking union includes a new system for closing down failing banks .. so that their problems don’t spill over on to governments making it difficult for them to borrow.

In the past banking crises in countries like Ireland and Spain have forced them to ask for EU money.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

economy

Wall Street unhappy with risky trade curbing Volcker rule