Thursday, April 11, 2013

Dijsselbloem wants an actual Banking Union

 The Eurogroup president Dijsselbloem called for a real banking union in the euro area. Which is good:

Other elements, on which we must press ahead, are the Recovery and Resolution mechanism for banks, a European resolution fund, the joint Deposit Guarantee scheme.

Even better is that he also recognized high unemployment as the most important challenge at the moment. Sadly, he still thinks austerity aka balanced budgets is the way to go, to reduce unemployment.

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