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Remarks by Paschal Donohoe following the Eurogroup meeting of 16 June 2022

· Paschal Donohoe, President of the Eurogroup (Euro area (EU))

Summary written by Dark Majestic in its own words · topics: financial stability, banking regulation and supervision

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· Paschal Donohoe Wiki · Eurogroup WikiRemarks by Paschal Donohoe following the Eurogroup meeting of 16 June 2022

ContextPress remarks in Luxembourg after a meeting of euro area finance ministers on Bloomsday; the Eurogroup coordinates economic policies for the single currency.

Why it mattersMinisters fail to agree a full banking union plan and opt for steps.

Problems raised
  1. The Banking Union is incomplete.
  2. Crisis management rules are weak.
  3. Resilience must be maintained.
Solutions proposed
  1. Strengthen bank crisis management.
  2. Improve deposit guarantee rules.
  3. Build the Banking Union step by step.
Read full speech on consilium.europa.eu ↗

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