the legal frameworbe submitted to the European Parliament for advisement1st January 2013EU will take the leadthe problems “paralysing the Euro Zone are being worked out.”The worst is over.
Inevitable Question: A ‘Win’ for France over Germany?The French head of state in no way flatters himself to have claimed a victory over Germany. On the contrary, he underlined taken by both countries in their willingness to introduce the banking union’s legislative framework as quickly as possible, and their mutual position on the same side during negotiations with non-Euro Zone member countries. According to the President, the victory resides in effect in the fact that the 27 member states have successfully agreed to implement the banking union, even though they are all not part of the Euro Zone and that they don’t necessarily care to be supervised by the ECB. Germany even managed to obtain a national supervisor in charge of overseeing certain local banks, while remaining under the aegis of a European central supervisor. It must be said, however, that : despite the project’s implementation , as she had desired, her idea of creating a super European commissioner to assure the post of European supervisor was not even discussed. According to President Hollande, “there are already sufficient procedures” to oversee and regulate the banking u nion: no need to create more.
the common step the German Chancellor was not able to play all her cardsin stagesFinally, in reaction to a question about the Nobel Peace Prize, François Hollande explained that the only prize European heads of state and government should seek is a way out of the crisis – and apparently, they’re on their way.(Photo credit @ European Council)