“Europe has agreed the core elements of a banking union that mark the most significant pooling of national power since the birth of the euro. European Union leaders meeting in Brussels Thursday will sign off a compromise deal hammered out overnight by their finance ministers after months of difficult negotiations. It will then go to European lawmakers for final approval before May 2014. The banking union is central to the eurozone’s response to future financial crises. The aim is to stop bank collapses from trashing national economies — a fate Ireland suffered in 2010 — and destabilizing the euro.”

http://money.cnn.com/2013/12/18/news/economy/europe-banking-union/index.html

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy