The project of a banking union is taking shape. The EU finance ministers agreed on Tuesday night on a plan for closing down insolvent banks. A single resolution fund is to gradually replace national provisions over the next ten years. Berlin has once again got its way with this “banking union light”, some commentators grumble. Others express relief that one of the major problems of the crisis has been solved.
Sweden’s Borg, centre, during last night’s meeting, where he sparred with his Dutch counterpart
It?s become something of a routine in the EU?s ongoing effort to build a ?banking union? that finance ministers try to come to a deal at their normal Brussels meetings ? only to fail and call a special emergency session at the 11thhour before a crucial summit.
The Slovenian Central Bank this morning released the long anticipated results of the stress test of Slovenian banks. The full results can be found here, while the press release is available here and a reader-friendly Q&A here.
The United States and the European Union continued to increase diplomatic pressure on Ukraine over harsh police treatment against protesters
Who has the highest energy bills in Europe?
Is Europe?s economic crisis mutating once again? If debt fears are now being superseded by the danger of deflation, as recent data suggest, the European Central Bank has its work cut out for it ? and there is nothing to suggest that it is up to the task.
Cybersecurity group alleges state-backed Chinese groups accessed EU foreign ministries before G20 amid struggle for global dominance in cyber intelligence
Brussels closer to agreeing new system to avoid repetition of the eurozone crisis, seen as biggest shift in sovereignty since the creation of the euro
Security forces stormed the headquarters of Yulia Tymoshenko’s Fatherland Party in Kievon Monday. At the same time President Viktor Yanukovych and opposition politician Vitali Klitschko have signalled their willingness to commence a dialogue. EU foreign policy chief Catherine Ashton is due to arrive in the country on Tuesday to act as mediator. Commentators fear that the situation will nonetheless escalate and warn against putting too much hope in boxing champion Klitschko.
The European Union should stop funding Palestinian civil servants in the Gaza Strip because money is going to officials who do not work, European auditors said on Wednesday (11 December).
As the biggest aid donor to the Palestinian territories, EU taxpayers pay a fifth of the salaries of teachers, doctors and bureaucrats in the small coastal territory, which has been governed by the Islamist group Hamas since 2007.