Arab Today, arab today merkel playing politics with banking union
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

Merkel playing politics with banking union

Arab Today, arab today

Arab Today, arab today Merkel playing politics with banking union

Berlin - Arabstoday

German Chancellor Angela Merkel’s challenger in next year’s general election accused her yesterday of delaying moves to create a European banking union to boost her chances of staying in office. Peer Steinbrueck of the opposition Social Democrats told public broadcaster Deutschlandfunk that Merkel had a clear interest in postponing key changes to the EU banking system until after the vote in September or October 2013. “You can see that the German government with her at the helm will do everything to ensure that the realisation of the banking union will be delayed at least until after the general election so you don’t run into the unpopular situation here in Germany whereby banks are suddenly being directly re-capitalised,” Steinbrueck said. EU leaders agreed at a summit on Thursday on a calendar for setting up a banking union after a Franco-German spat held up an accord on exactly when this key crisis-fighting tool might come into force. The “banking union”, which is to establish a single, Europe-wide regulator under the oversight of the European Central Bank, will work hand-in-hand with the new eurozone debt rescue fund, the European Stability Mechanism (ESM). When the supervisor is in place, the ESM would then be allowed to recapitalise weak member state banks directly, avoiding adding to a country’s debt burden. Most eurozone member states support the principle but key differences must be resolved before implementation can begin. Steinbrueck, who served as finance minister under Merkel during her first term 2005-2009, was tapped by the Social Democrats last month to stand against her for chancellor. He said he favoured a system in which banks would contribute to a fund to help themselves when they run into trouble, adding that the institutions that helped cause the crisis “must be made to participate far more than to date in the clean-up work”.

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*

Arab Today, arab today merkel playing politics with banking union Arab Today, arab today merkel playing politics with banking union

 



Arab Today, arab today

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*

Arab Today, arab today merkel playing politics with banking union Arab Today, arab today merkel playing politics with banking union

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday