eu parliament approves banking union
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

EU parliament approves banking union

Arab Today, arab today

Arab Today, arab today EU parliament approves banking union

Brussels - KUNA

The European Parliament Tuesday approved threepieces of legislation which are essential for the establishment of a Banking Union inthe 18-member euro area.Two deal with restructuring and winding down troubled banks, and the thirdensures that banks, not taxpayers, guarantee deposits under 100,000 euro in the event of a bank collapse. European Parliament President Martin Schulz in astatement said "from now on, clear rules to resolve a failing bank will be in placeand the risks for the whole banking system contained." "The European Parliamentsucceeded in fighting off the illogical pressure of some countries during thenegotiations. The Parliament succeeded in defending a fair, efficient, speedy and atruly European mechanism. The Parliament succeeded in safeguarding the interestsof European citizens," he said.On his part, EU Commissioner for Internal Market and Services, Michel Barnier, said"the banking union completes the economic and monetary union, puts an end to the era of massive bail-outs and ensures taxpayers will no longer foot the bill whenbanks face difficulties." "Not only does the banking union help to restore confidencein the banking sector, but it also ensures a truly European system of supervisionand resolution of banks when they fail," he added.As of November 2014, the European Central Bank will be the supervisor of all 6,000banks in the euro area in the framework of the Single Supervisory Mechanism.In the cases when banks fail despite stronger supervision, the recently adoptedSingle Resolution Mechanism (SRM) will allow bank resolution to be managed moreeffectively through a Single Resolution Board (SRB) and a Single Resolution Fund(SRF) of 55 billion euro. If a bank fails, the SRM will be much more effective incarrying out resolutions than the existing different national resolution authorities,argued Barnier.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu parliament approves banking union eu parliament approves banking union

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu parliament approves banking union eu parliament approves banking union

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday