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Saturday, April 13, 2013

Brakes (and Red Flags) on EU Banking Union

This Reuters article appeared today (Saturday). I've flagged (green and red) what I thought to be important aspects of the article.

  • It seems that an EU banking union is not on the front burner, as it first requires a change to the EU treaty.
  • Also, note the red flag around Mr. Shaeuble's last remarks...this strikes me as a plain warning for bank depositors
  • Plus his second-last remarks would seem to indicate that other countries may, indeed, face a fate similar to that imposed on Cyprus.