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EU leaders agree to a deal that will give the ECB oversight of eurozone banks starting from next...

EU leaders agree to a deal that will give the ECB oversight of eurozone banks starting from next year, a critical step that will allow the ESM to begin recapitalizing troubled institutions and that will lead to the creation of banking union. The ECB will begin by supervising banks that received state aid and then large cross-border firms, with all of the eurozone's 6,000 banks set to come under its aegis by 2014.
Comments (3)
  • Never any details about bank recapitalizations and how such would actually be done. The issues of who takes the losses is always side stepped.
    19 Oct 2012, 08:16 AM Reply Like
  • It will be addressed in good time. The fact that Europe is evolving into a Federal state. This takes time.
    19 Oct 2012, 08:45 AM Reply Like
  • This was all in the plan, to eventually have a one world financial & governing system. It was never meant to be good for the people, but to seek total control, and thus total power over the masses. Control the money, and you control everything. The powers that be, mainly the ones that are behind the Central Banks, have an unquenchable lust for power, they created this crisis, to unit Europe under the guise of the Euro, then to overload the system, and come riding in like a Knight in Shining Armor ready to save the day, but in my opinion, that Shining Armor holds a very dark interior, and a very sinister intent.
    19 Oct 2012, 08:45 AM Reply Like
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