Editorial Board

Europe's Half-Baked Banking Union

Europe's new banking union is a step forward that doesn't go far enough.
Nice banking union you have there. Photographer: Frederick Florin/AFP/Getty Images

Europe is putting the finishing touches on a new banking union, with the aim of restoring confidence in the euro area's banks, reviving lending and ensuring the common currency's survival. It's a step forward that doesn't go nearly far enough.

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