Bundesbank wants treaty change for banking union

Germany's Bundesbank is concerned about the European Central Bank's mix of powers once it takes over supervision of banks next year, insisting on an EU treaty change as soon as possible.

In its July report published Monday (22 July), the Bundesbank welcomed the creation of the so-called banking union, pooling at eurozone-level the supervision of large banks and, at a later stage, the power to tell banks to close down when they run into trouble.

"The banking union cannot solve the ...