Correspondent, Brussels
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Jan 21, 2014

EU parliament chief warns of flaws in Europe’s banking union

BRUSSELS (Reuters) – The president of the European Parliament has warned it may not be possible to finalize critical legislation dealing with Europe’s problem banks on time because differences among negotiators remain deep.

The parliament must sign off on a scheme agreed late last year by EU countries to close failing banks, completing a sweeping reform known as banking union and intended to bolster confidence in the euro zone and its fragile lenders.

Dec 19, 2013

Analysis: Europe’s half-hearted bid to protect its banks

BRUSSELS (Reuters) – Europe’s efforts to form a united front behind euro zone banks are reaching a climax, but many fear they will fail to restore confidence and prove flimsy should another crisis strike.

After more than a year of talks, ministers from across the European Union agreed early on Thursday a scheme to close failing banks, but the process will be complex and politicized. They also stopped short of an ambitious plan for euro zone countries to help each other in tackling problem lenders.

Dec 19, 2013

Europe’s half-hearted bid to protect its banks

BRUSSELS, Dec 19 (Reuters) – Europe’s efforts to form a
united front behind euro zone banks are reaching a climax, but
many fear they will fail to restore confidence and prove flimsy
should another crisis strike.

After more than a year of talks, ministers from across the
European Union agreed early on Thursday a scheme to close
failing banks, but the process will be complex and politicised.
They also stopped short of an ambitious plan for euro zone
countries to help each other in tackling problem lenders.

Dec 19, 2013

Europe moves to banking union with blueprint for failing lenders

BRUSSELS (Reuters) – The European Union agreed on Thursday a blueprint to close failing banks but stopped short of a more ambitious plan for the euro zone to unite in tackling its troubled lenders.

More than five years since a financial crisis struck, Europe is on the verge of finalizing one its most ambitious reforms since the launch of the euro – an agency and fund to shut problem banks as soon as the European Central Bank starts to police them next year.

Dec 18, 2013

Europe moves towards scheme to close failing banks

BRUSSELS (Reuters) – The European Union edged closer to agreeing a scheme to close failing banks but will leave big gaps in a wider reform that was supposed to unite the euro zone behind its troubled lenders.

More than five years since a financial crisis struck, Europe is crafting its most ambitious reform since the launch of the euro – an agency and fund to shut problem banks as soon as the European Central Bank starts to police them next year.

Dec 13, 2013

Insight: Europe faces moment of truth on banks, with flawed defenses

BRUSSELS (Reuters) – Europe’s banks face a moment of truth next year when health checks will spell out the repairs they need.

The trouble is that fixing them could require cash-strapped governments to borrow more, often from the very banks that need their help.

Dec 13, 2013

Europe faces moment of truth on banks, with flawed defences

BRUSSELS, Dec 13 (Reuters) – Europe’s banks face a moment of
truth next year when health checks will spell out the repairs
they need.

The trouble is that fixing them could require cash-strapped
governments to borrow more, often from the very banks that need
their help.

Dec 11, 2013

European Union set to fast-track rules hitting bank creditors

BRUSSELS (Reuters) – Bondholders and large depositors in a failing European bank face taking losses from the start of 2016, European Union negotiators agreed on Wednesday, in a provisional deal on rules to spare taxpayers from further bailouts.

The law, if approved by EU ministers, will make losses for senior bondholders and large savers a permanent feature of the bloc’s response to banking crises and mark another milestone in the reform of an industry that triggered economic turmoil.

Dec 11, 2013

Germany seeking early start for EU rules hitting creditors of failed banks

BRUSSELS, Dec 11 (Reuters) – Bondholders and large
depositors in a failing bank could face losses as early as 2016
if Germany succeeds in accelerating tough new European rules to
spare taxpayers from further bailouts.

A day after European Union finance ministers met to try to
build a single banking framework for the euro zone, EU
negotiators and members of the European Parliament were
attempting on Wednesday to set out rules that will also provide
the foundations for the so-called banking union.

Dec 11, 2013

Europe edges toward plan to close failing banks

BRUSSELS (Reuters) – Euro zone countries edged toward agreeing a plan to tackle ailing banks on Tuesday but divisions remain about key parts of the reform that is needed to underpin confidence in the bloc’s lenders.

After a financial storm that toppled banks and dragged down states from Ireland to Spain, countries are considering a fresh blueprint outlining what to do when a bank fails, a critical second pillar of a wider reform dubbed banking union.

    • About John

      "I am a Reuters correspondent in Brussels, writing about the European Union. I moved here last year from Germany, where I had reported about the financial crisis, turning up numerous scoops and even winning a prestigious business reporting award. Beforehand, I worked with The Sunday Times in London."
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