Tag Archives: Netherlands Begin To Unravel EU Banking Union Plans

Germany, Finland, Netherlands Begin To Unravel EU Banking Union Plans – 27 September 2012

Germany, the Netherlands and Finland have issued a joint declaration that appears to unravel much of what was agreed at the last European summit in June, when EU leaders paved the way for the direct recapitalisation of troubled banks.

In a statement issued on Tuesday (25 September) after a meeting of their finance ministers in Helsinki, the three AAA-rated countries set out the terms under which they would be willing to allow the euro zone’s permanent rescue fund, the ESM, to recapitalise at-risk banks. Continue reading