The 17 countries that use the euro should consider setting up a "banking union" that lets them share the burden of bank failures, the EU's executive arm said in a report on the bloc's crisis-fighting efforts.
Struggling euro zone countries seeking future aid from the region's rescue fund to prevent their banks collapsing will have to share the cost burden, according to a draft euro zone proposal seen by the ...
LONDON (Reuters) - Struggling euro zone countries seeking future aid from the region's rescue fund to prevent their banks collapsing will have to share the cost burden, according to a draft euro zone proposal seen by the Financial Times.
BRUSSELS — The European Union’s executive office on Wednesday called on the 17 countries in the eurozone to create a “banking union” that can centrally oversee and — if needed — bail out the sector, which has become a weak link in the continent’s financial system.
With every passing day, there is increased chipping away of support for the Euro. Please consider Linde CEO says Germany should mull euro exit
Germany should consider leaving the euro if efforts to impose fiscal discipline upon indebted euro zone countries fail, the head of industrial gases firm Linde told German weekly paper Der Spiegel.
The debate rages... Soros: "The euro crisis has already transformed the European Union from a voluntary association of equal states into a creditor-debtor relationship from which there is no easy escape. The creditors stand to lose large sums should a member state exit the monetary union, yet debtors are subjected to policies that deepen their depression, aggravate their debt burden, and perpetuate their subordinate position. As a result, the crisis is now threatening to destroy the EU itself.
If this article goes viral around the web, I wouldn't be surprised if the euro tanks and several European sovereign states' spreads blow out. I have busted several of them in another of a long series of "creative" economic forecasting schemes to fudge the appearance of "austerity".