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The European Parliament wants to have a say over the entire banking union proposal (Photo: Luc Mercelis)

EU turf war on banking union may pose risks to Spain

The European Parliament is fighting for a bigger say in shaping the eurozone banking supervisor in a move which could hurt Spain.

Putting the eurozone's banks and national supervisors under the ultimate authority of the European Central Bank (ECB) should have been a relatively easy task, or so EU leaders thought back in June. This was Germany's precondition for agreeing that ailing banks may access the eurozone fund directly, a demand made by Spain so that the €100 billion loan from the...

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The European Parliament wants to have a say over the entire banking union proposal (Photo: Luc Mercelis)

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