News Column

Go-ahead for EU bank plans

July 10, 2014

BERLIN: Germany's cabinet has approved a package of draft laws which effectively give the go-ahead to Europe's plans for banking union - its main confidence-building response to the crisis in the financial sector, a government source said yesterday.

The European plans will mean there is one supervisor for euro zone banks, one set of rules to close or restructure troubled banks and one pot of money to pay for |everything.

Cape Argus

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Source: Cape Argus (South Africa)

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