Draghi Calls for a Banking Union

Note: This section contains information in English only.
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

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