Europe: Barroso pushes EU banking union!

Posted this the other day in one of me threads but looking back to it now, i think that this is bigger news than everyone thinks and deserves a thread of its own for a further chat if everyone is interested. For the average European this means that we are one step closer for a further unification and a further loss of rights. Countries will lose even more rights in their economic policy. Countries will even lose the sovereign right of nationalizing a bank of theirs. If a bank is bailed-out with peoples money, the state has every right to have some shares or completely nationalize a bank. This won't be possible to be achieved if this union goes through. UK so far have no intention to be a part of this but other countries seem to be excited with these news. This could be in effect as early as 2013. Am i the only one that finds suspicious that this EU crisis started immediately since the Lisbon Treaty entered into force in 2009?

Barroso pushes EU banking union

All 27 EU countries should submit their big banks to a single cross-border supervisor as part of a banking union to be enacted as soon as next year, the president of the European Commission has urged.
I think now we have conditions to go further that, frankly, we did not have before,” he said. “There is now a much clearer awareness among European member states about the need to go further in terms of integration, especially in the euro area. This is one of the lessons of the crisis.


FT is such a bitch with the copy/paste and redirecting of their articles so i will give you two links to read this. The original link here: [link to www.ft.com]
And if you can't read that click the first link in this google search and you will be able to read it:
[link to lmgtfy.com]

Last Edited by insertfunnyusername on 06/14/2012 12:09 PM