|Author (Person)||Spiegel, Peter|
|Series Title||Financial Times|
Article discusses proposals circulating in the late summer of 2012 for moves towards a 'banking union' amongst eurozone countries.
In particular, the article discusses draft proposals from the European Commission likely to be launched on the 12 September 2012 in the European Commission's State of the Union 2012 speech.
A new single banking supervisor would be the most significant change in eurozone financial governance since the single currency’s creation
Under these proposals the European Central Bank would be given sweeping authority over all 6,000 eurozone banks. These proposals would put the Commission on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards 'banking union'.
|Subject Categories||Business and Industry, Economic and Financial Affairs, Politics and International Relations|
|Countries / Regions||Europe|