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AIB - the bailed-out Irish bank - under a European banking supervisor, would its problems have been spotted earlier? (Photo: Matt Buck)

Analysis

The battle for banking union

In their last meeting before the summer break, EU leaders spoke about the need to break the "vicious link" between banks and sovereigns. The kind that allowed lenders to take unnecessary risks while local politicians conveniently looked the other way.

Now, just one week before a legislative proposal is to be tabled, the "vicious link" is in danger of being allowed to stay. And if it does, it will be down to significant lobbying by German Landesbanken and Sparkassen. In other words, the ...

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AIB - the bailed-out Irish bank - under a European banking supervisor, would its problems have been spotted earlier? (Photo: Matt Buck)

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