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Friday, Oct 19
2012, 11:11 AM
Heads slump to the table as Fitch says limited progress towards banking union at the...
Heads slump to the table as Fitch says limited progress towards banking union at the just-completed EU summit increases pressure on the outcome of the December meeting. A Jan 1 start date for the Single Supervisory Mechanism (SSM) remains in place, but nothing operational has been decided. At issue is allowing the ESM to recapitalize the banks.