Economic and Financial

Bickering over the Banking union

The EU summit, which has just concluded, will celebrate the “satisfactory progress” made in the Brexit negotiations and leave self-satisfied European leaders to enjoy year end celebrations with the feeling of having accomplished their duty! The cracks in the EU unanimity on the sensitive matters of migration and further deepening Eurozone integration will keep alive the hopes of extreme Brexeteers that the worst consequences of Brexit will be avoided by an eventual collapse of the EU itself. While there will be little respite in Brexit negotiations with the focus on the “transition period” starting early in the new year, other priority preoccupations, in particular reforming the Eurozone, are being pushed back to next June after the hoped for formation of…

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