EU Full Bank Supervision Across Europe

EU Full Bank Supervision Across Europe.

At is European summit, EU leaders have agreed a framework for one single banking regulator across the whole of Europe.  The new Single supervisory mechanism (SSM) will have control over regulation and capital adequacy of all Euro country banks.  It will also explore closing down failed banks and setting up a new, combined investor protection scheme.

Our view
Quite simply, this is Franco-German driven exercise and is a clear intent
that France and Germany are looking to create a "supertanker" banking system to try and wrestle London from its perch as the World capital of finance.  At the same time, German leader, Merkel, looked to for Europe to have control to veto Euro Sovereign State Budgets.  In short, control of a countries budget being in the hands of other countries.