She said European banking union was a key first step to putting Europe on the path to sustainable recovery.
He wants a European banking union that contains a joint deposit guarantee scheme.
These include the geopolitical picture (North Korea), the U.S. fiscal outlook (Grand Bargain negotiations), and global financials (European banking union) looking more stable than unstable.
As Robert Peston has succinctly reminded us, she has good reason to be wary of the talk of a European "banking union" now coming out of Brussels.
Pharmion can't sell it in the U.S. but is banking on European Union marketing approval.
Moreover, the latest developments in the eurozone with respect to some unlimited bonds purchases by the European Central Bank, the blueprint of a banking union there and the ratification of the European Stability Mechanism, or ESM, by the German Constitutional Court have effectively diminished short term risks, all of which benefited the peso.
Landsbanki, for example, had used Iceland's membership of the European Economic Area (which gives countries access to the European single market without having to join the European Union) to develop its online banking presence.
Among the key agreements from the 29 June summit were moves towards banking union with the European Central Bank (ECB) acting as a supervisor and allowing European bailout funds to buy bonds to try to reduce countries' borrowing costs.
BBC: Spanish borrowing costs above 7% as euro ministers meet
The European Union earlier this month unveiled a plan to create a coordinated banking union rather than leaving troubled nations to deal with their own banking crisis.
Europe has committed itself to a banking union - and a European supervisor of the eurozone's big banks.
As European leaders draw up plans for a banking union (see article), the third reason Cyprus matters is that it exemplifies the potential costs that would be shared in such a venture.
ECONOMIST: The latest euro-zone member to request a bail-out
When Cyprus joined the European Union in 2004 certain regulations and banking standards regarding business transparency had to be met.
Moving on to European issues, Mr Cameron promised that a banking union among the eurozone countries will not be allowed to "compromise our fair access to the Single Market".
Many argue the euro zone's survival now depends on rapid moves towards full political and fiscal union, with a single European banking supervisor, a common deposit guarantee fund and resolution fund, a central European treasury operation and common issuance of bonds a formidably high hurdle.
The UK has welcomed plans set out by the European Commission to move towards a common "banking union" across the eurozone - which could allow central authorities to intervene before a bank gets into trouble to prevent taxpayers having to bail it out later on.
Faced with a U.K. veto on the treaty changes needed to embed the euro zone's emerging political union in existing European institutions, the euro zone is increasingly forced has to create new arrangements for example, on fiscal union and banking union outside the European treaties where the U.K. has no voice, increasing the risk that Britain becomes marginalized. within Europe.
In the next years, if the European Union manages to think out of the box and to adopt original measures to reinforce the governance of the eurozone, such as the undergoing banking union and the announced fiscal and political unions, the original misconceptions of the European Monetary Union (EMU) will be fixed.
FORBES: Europe : Getting The Nobel Peace Prize And Preparing For The Nobel Prize In Economics?
The agreement - a key step towards banking union - will be put before European leaders later on Thursday.
Creating a European equivalent of the FDIC -- through a banking union -- would pool the eurozone's insurance to guarantee bank deposits, and thus reassure investors.
The January 1, 2013 deadline for implementation would coincide with the EU need for a single banking regulator per the tenets of the European Union (EU) fiscal compact.
FORBES: Basel Barriers: How capital requirements would impede progress in the sovereign debt crisis
But despite the debt crisis, economic contraction in many European Union countries and instability in the European banking system, experts at Jones Lang LaSalle say confidence in the hotel real-estate sector has risen since October 2011.
In overnight news, European Union finance officials have agreed on a deal that would create a single bank supervisor and EU banking union.
By injecting their funds directly into Spain's banks, European rescuers could have taken a first step towards a banking union.
But of course, it's going to be important for European leaders to set out their broader path to greater banking union.
He said the deal "will lead to fundamental changes" in the Cypriot banking sector and reduce its size to the European Union average.
The germ of a banking union is the most likely outcome of the European summit on June 28th and 29th.
This control and monitoring aspect of banking union is gradually being implemented, with the European Central Bank becoming the supreme supervisor of eurozone banks.
On Ms. Merkel's insistence, much of this week's summit will be taken up with discussions of proposals by the presidents of the European Council, European Commission, ECB and Eurogroup for banking, fiscal and political union.
The European Council looks set to approve the first stage of a eurozone banking union at its meeting in late June.
As negotiations over Iran's nuclear programme eached a stalemate in recent years, the US and the European Union intensified their sanctions against Iran's energy and banking sectors.
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