European Commission vice-president Valdis Dombrovskis hopes to complete banking union by June
In mid March, the European Commission (EC) announced a proposal aimed at preventing Europe’s banks from becoming embroiled in another non-performing loans (NPLs) crisis. A day later the European Central Bank (ECB) announced its own measures to achieve the same goal, although by different means.
The moves are part of an effort to appease some jurisdictions, most notably Germany, hesitating to agree to a pan-European depository insurance scheme (EDIS).
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