EU not fully prepared for banking collapses
Official says national schemes may prove insufficient to deal with multiple failures
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Brussels
THE European Union is not yet fully prepared to handle banking collapses in the event of a new financial crisis, the European Commission said on Friday, urging member states to agree on pooling more resources to weather future storms.
Following the eurozone debt and banking crisis, EU countries have designed a banking union meant to strengthen lenders' financial stability, but have not brought the plan to completion.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
