The banking union alone cannot bring recovery

The banking union, two years after its inception, is still a work in progress. In another financial crisis, it is debatable whether a truly European approach would prevail over a partly national response; and the process of decoupling banks from the solvency of their governments is far from complete. Overall, however, the banking union is a significant step. The blame for the faltering recovery in the eurozone should be directed elsewhere.

ESO: Key Source: European Banking Union http://www.europeansources.info/record/european-banking-union-2/

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