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FSN: Europe at Loggerheads Over Banking Union
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
European finance ministers clashed over plans for a banking union on Saturday, with Germany leading criticism of proposals to introduce a single banking supervisor by January.
by Emily Gosden, and agencies
Telegraph.co.uk
Ministers were meeting in Cyprus to discuss the European Commission’s proposals for the European Central Bank (ECB) to be given the role of supervisor, with extensive powers to regulate banks.
The appointment of a single bank supervisor is a crucial step toward a wider European banking union, which could see the European bailout fund offer direct help to troubled banks. However, ministers disagree over the detail of the proposals.
German Finance Minister Wolfgang Schäuble said it would “not be possible” for the ECB to assume its new duties by the new year as planned.
Continue Reading at Telegraph.co.uk…
2012-09-16 02:28:12
Source: http://silveristhenew.com/2012/09/15/europe-at-loggerheads-over-banking-union/
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