#13 Germany News – Europe At Odds Over Next Steps to Banking Union

Germany

Europe is in a muddle! Seventeen European countries are part of the European Union (EU). Most of the seventeen wish to move quickly in getting a regulator for central banking and an authority that can help the failing banks. They want this to happen quickly because of their more-than-three-year debt crisis. The eurozone’s debt crisis was caused by Europe’s banking industry. Property investments nearly brought the European banks to collapse and Spain and Ireland came to their rescue. This rescue has brought on a high debt level.

Recently the seventeen eurozone finance ministers met in Brussels, Germany.  Olli  Rehn, the EU’s top financial adviser  argued in favor of moving quickly to form a banking union. He believes such a union would help to make more jobs and employment possible.It would make investments possible that are necessary for jobs and recovery. He believes a banking union isn’t to rescue the banks but…

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8 Responses to #13 Germany News – Europe At Odds Over Next Steps to Banking Union

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