Draghi Calls for a Banking Union

Source: The Wall Street Journal
Mario Draghi, ECB President, impels Europe's policy makers to develop a long term vision for Eurozone and form a "banking union" in order to avoid struggling banks putting under pressure the financial system. Additionally, ECB Chief suggested a deposit insurance guarantee system and centralised banking sector monitoring. Along with that, Draghi also admitted that the ESM might be used to recapitalize banks. 
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Fri, 01 Jun 2012 06:46:08 GMT

Spain has time to rescue Bankia

Spain's policy makers say that they have time until October to raise the necessary funds needed to rescue Bankia. Currently the government's bailout fund makes up €12 billion; nevertheless, it requires to raise €7 billion more to rescue the ailing bank. It is planned to give Bankia €7 billion in July with remaining €12 billion provided in October.

Thu, 31 May 2012 19:15:39 GMT

Liu Mingkang advice for China

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