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EU Nations Agree to Eurozone Banking Union

Friday 14 December 2012

‘You think you’ve conned South Africans into believing you are working for them?’ …

‘… British people think I am against a European fascist dictatorship run from Brussels and against government control of the media.’

Ha, ha, ha, ha, ha, ha, ha, ha, whoop, whoop, whoop.

‘Following months of tortuous negotiations, finance ministers from the European Union’s 27 countries agreed to hand the ECB the authority to directly supervise the eurozone’s biggest banks and intervene in smaller banks at the first sign of trouble.

“This will enable the vicious circle between banks and sovereigns – which has been a salient feature of the debt crisis in Europe – to be broken,” leaders said in a statement following 14 hours of talks.

Cypriot Finance Minister Vassos Shiarly compared the deal to a “Christmas present for the whole of Europe.”‘

Read more: EU Nations Agree to Eurozone Banking Union