Scholz makes headway with Banking Union (

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Brussels. Federal Finance Minister Olaf Scholz (SPD) has taken a new step towards the completion of the EU banking union and does not exclude the limited takeover of losses by a European system for securing client money. An improved banking union "should be a form of a common European deposit guarantee mechanism," Scholz wrote in a guest contribution to the Financial Times (Wednesday edition). However, the Minister attaches this to many conditions, and in particular to a significant reduction in bad bank loans in other Member States.

»After years of discussion, the blockade has …

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