In August, the Bulgarian government adopted a detailed action plan for joining ERM II and the Banking Union and there were some changes1 to the Bulgarian National Bank Act that also seem to lead in this general direction.
European banking union is the most important regulatory project in the European Union (EU).
This treaty was supposed to force politicians to behave more responsibly and not to think only in a time horizon of the next elections, but in a couple of months it became obvious that countries would be breaking also this treaty regularly.
The Hot Wednesday wasn’t that hot after all. Greece denies need for the third bailout package. Spaniards don’t want any bailouts either. Rompuy has a plan. Americans don’t want to be left behind. The Judgment Day came, but it didn’t bring any shocking surprises. Bailout mechanism is not against the Constitution in Germany and the parliament can ratify it. The opponents got a little gift at least, the court forbade automatic ESM increasing over the initia capacity,…
In Spain it will be hot after the summer. Judgment day will be on September 12. Did you sell grandfather’s gold teeth in Italy? We are treating depression by delivering news about bad situation our neighbours are in. The heat is slowing down the pace of society, but if you think it will slow down the pace of the crisis in the Eurozone, you’d better check if you don’t have sunstroke. Even though the news…
