A banking union – it is necessary, but is it likely?

The question now is whether the currency union's member-states can finally accept the logic of what they have created. It has become increasingly hard to see how they can will the survival of the eurozone and simultaneously oppose the very features that are critical to making it work. One such feature is a proper banking union. In June, European leaders gave themselves until the end of 2012 to consider setting up such a union. They may not have that time, and they cannot afford to fail.

ESO: Background information: Euro blueprint maps way to banking union http://www.europeansources.info/record/euro-blueprint-maps-way-to-banking-union/

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