Whether to share risks or reduce them. That is the leitmotiv behind the current battle over the reform of the euro, which is supposed to lead to a new initiative by June.
Deposit Guarantee Fund (DGF)
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Banking union is a milestone in the European project. It has chiefly helped to stop fragmentation but will not be able to break the sovereign-bank doom loop until it can rely on a robust safety net. Advancing towards a complete banking union should be a priority for EU leaders but this will require advances in the fiscal un…