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-ECB vice president supports banking union.

Global Banking News-November 1, 2012--ECB vice president supports banking union(C)2012 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 01 November 2012

According to the European Central Bank (ECB) vice president, Vitor Constancio, a proposed banking union would serve to solve some faults of the European Monetary Union.

According to Constancio, the problems that surfaced during the financial crisis could be solved in future if a banking union is in place. He also opined that a new eurozone bailout fund should recapitalise banks directly.

EU leaders have agreed to establish a new bank supervisory body under the ECB to prevent future crises.

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Publication:Global Banking News (GBN)
Date:Nov 1, 2012
Words:125
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