The EU needs a political consensus to accelerate in the banking union – Europe

The EU needs a political consensus to accelerate in the banking union - Europe

Brussels – “I hope we will be strategic in the banking union: We must first approve a comprehensive plan with political consensus. This will allow us to make progress in the individual areas. If we are serious about getting it done, there is no time to waste. He said European Commissioner for Financial Services, Meyer McGinnon, Speaks at the Annual Meeting of the Single Resolution Board (SRB).

“If we all stand firm on our national positions and concerns, we will fail to frame our banking system; it is changing rapidly,” McGuinness stressed, and it has done so far. “A lot of distance, but there is still work to be done.”. The first two pillars of the banking union “help make our banks more resilient” and “keep our economy afloat in the face of epidemics and the resulting economic impact”, but the Irishman continued, “to maintain financial stability and maintain our resilience. In the event of a future crisis, we must finish our work.”

Despite the “disappointment” at the difficulty of moving forward with the dossier, “Commission supports Euro Group’s efforts to develop an ambitious work plan” It was decided to strengthen the existing architecture and to “build the third pillar of the banking union: the European donkey system”.

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