European Salon de News, Discussion et Klatsch - 10 October | 110 comments (110 topical, editorial, 0 hidden)

Re: Europe (none / 1)

You could do worse than this summary by Münchau (from a recent Salon): Welcome back to the eurozone crisis (FT.com, September 30, 2012)

... This is how I would summarise the German position:
First, we do not really want a banking union all, but if we have to have it, we would like to limit the remit of the pan-European supervisor to a few large cross-border banks.
Second, ideally the supervisor should not be the ECB; if it has to be the ECB, there must be safeguards, stronger than those proposed, to ensure that monetary policy remains independent from the banking supervisor.
Third, there shall be no joint deposit insurance.
Fourth, the banking union shall not deal with any legacy risk, only problems that arise in the future. The Spanish bank programme remains a Spanish bank programme.
Fifth, the ESM should not be able to undertake direct bank recapitalisations until the banking union is fully implemented. This will take many years.
Whether or not you call this a banking union, or a breach of the June 29 agreement, is irrelevant. ...

I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS

by Carrie (migeru at eurotrib dot com) on Wed Oct 10th, 2012 at 08:29:27 AM EST
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Re: Europe (none / 0)

I'll have to register to read in full. Going by way of Google does no longer work. Ah well, what is another source of spam?

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Wed Oct 10th, 2012 at 01:58:28 PM EST
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Re: Europe (none / 0)

Works for me. Clean out your cookies and try again?

by generic on Wed Oct 10th, 2012 at 03:06:14 PM EST
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European Salon de News, Discussion et Klatsch - 10 October | 110 comments (110 topical, 0 editorial, 0 hidden)