European Banking Union is Unfit for the Next Crisis

Saturday, December 21, 2013
By Paul Martin

Mike Shedlock
Dec 21, 2013

Here is an interesting article in Der Spiegel Online that echoes recent statements of mine. Please consider Der Spiegel Online article: Not Fit for the Next Crisis: Europe’s Brittle Banking Union.

German Finance Minister Wolfgang Schäuble has negotiated a European banking union suited perfectly to his country’s tastes. It looks like a victory, but it could prove to be very expensive if Europe or Germany face another financial crisis.
Will, Not If

I could easily stop right there, with slight modifications as follows: “It will prove to be very expensive when Europe or Germany face another financial crisis.”

The Rest…HERE

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