Eurozone ‘outs’ fear banking union plan

Article reported that the drive towards eurozone banking union as proposed by the European Commission in September 2012 faced political obstacles including a backlash from EU members outside the single currency club.

EU officials are said to be taken aback by the vociferous objections of so-called eurozone ‘outs’ to their blueprint for a single bank supervisor – a reform proposal that would need the backing of all 27 EU countries to become law.

ESO: Background information: ECB to become bank union supremo from mid-2013 http://www.europeansources.info/record/ecb-to-become-bank-union-supremo-from-mid-2013/

ESO: Background information: Non-euro countries raise concerns on banking union http://www.europeansources.info/record/non-euro-countries-raise-concerns-on-banking-union/

Spiegel Online International, 10.10.12: IMF Demands Swift Banking Union in Europe http://www.spiegel.de/international/business/concerns-over-stability-imf-demands-swift-banking-union-in-europe-a-860510.html

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