German Federal Finance Minister Olaf Scholz (SPD) is abandoning his blockade of the European deposit insurance system. In an eight-page non-paper on the Banking Union he proposes a “European Reinsurance System” for bank deposits which is to be set up in addition to the national deposit guarantee schemes with contributions from credit institutions. Losses exceeding…
The European Commission has said that it welcomes the European Parliament’s final votes on legislation putting in place the building blocks of a Capital Markets Union (CMU). It said the adoption of a substantial number of proposals constitutes another step forward in the completion of the CMU, one of the Juncker Commission’s top political priorities. The Capital…
