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German panel warns against 'hasty' banking union

07.11.12 @ 15:04

  1. By EUOBSERVER

BERLIN - Plans for a eurozone banking union are "no solution" for current euro-problem and should not be "rushed," a panel of economic advisers to the German government said Wednesday. Instead, they propose a phase-in process, with banking supervision established "outside" the European Central Bank and banks "qualifying" for the new system.