Brussels mulls cross-border rules to wind up failing banks

Series Title
Series Details 30.5.12
Publication Date 30/05/2012
Content Type

Features preview a proposed cross-border banking regulation to be introduced by the European Commission on the 6 June 2012. This would renew the Commission's push for a 'banking union', which would create a common eurozone banking supervisor complete with a common fund to bail out failing banks and guarantee deposits throughout the currency region.

Other features discuss aspects of the proposed 'Banking union' and reaction in various countries including Germany. An FT article reported 'robust opposition from banks in Germany over fears that they would be put on the hook to support rivals in weaker countries'.
Source Link Link to Main Source http://www.euractiv.com/euro-finance/eu-propose-cross-border-rules-wind-failing-banks-news-513015
Related Links
BBC News, 30.5.12: European Commission suggests bank bailouts http://www.bbc.co.uk/news/business-18261969
ESO: Background information: EU gives Spain more time, nudges France on deficit http://www.europeansources.info/record/eu-gives-spain-more-time-nudges-france-on-deficit/
Der Standard, 31.5.12: Barroso for banking union (via PressEurop) http://www.presseurop.eu/en/content/news-brief/2092921-barroso-banking-union
Reuters, 29.5.12: EU proposes cross-border bank rescues: draft http://www.reuters.com/article/2012/05/29/us-eu-banks-idUSBRE84S13H20120529
The Wall Street Journal, 30.5.12: Euro-Using Countries Urged To Set Up Banking Union http://online.wsj.com/article/SB10001424052702303640104577435930162989816.html?mod=googlenews_wsj
The Telegraph, 29.5.12: Draft EU bank resolution law: main points http://www.telegraph.co.uk/finance/financialcrisis/9298487/Draft-EU-bank-resolution-law-main-points.html
The Irish Times. 30.5.12: Draft EU law may compel states to bail out each other's failing banks http://www.irishtimes.com/newspaper/finance/2012/0530/1224316912339.html
EUObserver, 1.6.12: Spain may speed up EU 'banking union' http://euobserver.com/19/116451
EurActiv, 1.6.12: Leaders in stark warning over euro zone 'survival' http://www.euractiv.com/euro-finance/euro-survival-risk-leaders-warn-news-513069
EurActiv, 5.6.12: Merkel warms up to EU banking union http://www.euractiv.com/euro-finance/merkel-warms-eu-banking-union-news-513122
EurActiv, 6.6.12: Brussels to present plan for crisis banks http://www.euractiv.com/euro-finance/brussels-present-plan-crisis-ban-news-513157
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