In Focus (Archive)

CEEA Patners

European Activity

New powers of the European Central Bank

October 01, 2013

deputies give new powers of the European Central Bank to supervise six thousand bank in the euro zone as a first step in building a banking union.

The European Parliament's vote will allow the central bank to supervise in 2014. According to a member of the European Parliament of the Greens, when the Germans supervised Deutsche Bank and the French supervised BNP, a collusion took place.

He added: If we want to ensure that our banks, which rely on taxpayers will be well managed in the public interest, we must have a good point. This is what we wanted to do in the banking union: a European police observing the banking sector in the euro zone and in the countries joining the euro, and with all those who wish to join the initiative.

After more than three years of turmoil in the financial markets after the bailouts of Greece, Ireland, Portugal, Cyprus, the objective is to create a common and unified framework for banks in the euro zone, with mechanisms to reduce failing institutions and protect savers' deposits and defend the euro against the crisis which is one of the most ambitious projects and a challenge for the European Union.




Studies and Research