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ECB: Banking union only effective with deposit guarantee

14.09.12 @ 17:32

  1. By EUOBSERVER

The newly-proposed banking union putting the European Central Bank at the centre of eurozone bank supervision cannot be effective without a deposit guarantee scheme and clear rules on how to wind down banks that go bust, ECB deputy Joerg Asmussen said Friday in Nicosia. Germany opposes the two latter ideas.

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