Time turns trend. - W.D. Gann
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Euro Area Summit Statement
We affirm that it is imperative to break the vicious circle between banks and sovereigns. The Commission will present Proposals on the basis of Article 127(6) for a single supervisory mechanism shortly. We ask the Council to consider these Proposals as a matter of urgency by the end of 2012. When an effective single supervisory mechanism is established, involving the ECB, for banks in the euro area the ESM could, following a regular decision, have the possibility to recapitalize banks directly. This would rely on appropriate conditionality, including compliance with state aid rules, which should be ... (full story)
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Early to bed, early to rise, keeps you healthy, wealthy and wise.
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Time turns trend. - W.D. Gann
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