Euro near a 2-year low; EU calls for a 'banking union'

[Sally]

I wonder if the others will go for this.

Euro near a 2-year low; EU calls for a 'banking union'

The European Union’s executive body is calling for a “banking union” to centralize efforts to deal with the region’s economic turmoil – especially in Spain, which is racked by high unemployment and severe debt.

It’s “an ambitious approach,” according to Jose Manuel Barroso, president of the European Commission. The proposal also advocates for financial supervision and deposit guarantees across the euro zone.

Continue reading at:

Euro near a 2-year low; EU calls for a 'banking union'*-*Los Angeles Times

 

[Political Junky]

The euro is still worth $1.36464.

 

[gipper]

Centralized the entire continent into the hands of a small corrupt elite.

Well...we know from history, that really works out well for all.

 

[Phoenall]

Centralized the entire continent into the hands of a small corrupt elite.

Well...we know from history, that really works out well for all.

Yes we just need look no further than the good old USA for a prime example of that

 

[Phoenall]

I wonder if the others will go for this.

Euro near a 2-year low; EU calls for a 'banking union'

The European Union’s executive body is calling for a “banking union” to centralize efforts to deal with the region’s economic turmoil – especially in Spain, which is racked by high unemployment and severe debt.

It’s “an ambitious approach,” according to Jose Manuel Barroso, president of the European Commission. The proposal also advocates for financial supervision and deposit guarantees across the euro zone.

Continue reading at:

Euro near a 2-year low; EU calls for a 'banking union'*-*Los Angeles Times

Strange how the architects of the Euro and the Eurozone did not go into it, preferring to keep their own currency and economy. Spain had the means of being one of the richest nations in the EU and blew it when the good times were there.