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Inching Towards Integration; The Euro Crisis
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 404 no. 8792 (Jul. 2012)
,
page 13,16.
Topik:
European Bank
;
Financial Crisis
;
Economic Conditions
;
Bail-out Funds
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.72
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
The summit gave reasons for guarded optimism. Europe's politicians have said they will create a Europe-wide bank supervisor (involving the European Central Bank) before the end of the year. This is only a pledge, but if the history of European policymaking is a guide, the euro zone will quarrel over the details of a banking supervisor only to agree to one eventually. Second, by accepting that bail-out funds can go straight to banks, Mrs Merkel has made a big shift from her insistence that help could go only to governments, with tough conditions attached. The underlying German logic that shared financial liability must imply shared oversight remains the same. But by countenancing jointly financed bank recapitalisation, Mrs Merkel has accepted a broader notion of risk-sharing. This is still a long way from the partial debt mutualisation that the euro zone needs, but it marks a step forward from Germany's exclusive obsession with fiscal austerity.
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