IMF: Banking union key to eurozone stabilisation
The International Monetary Fund (IMF) has revealed that although the eurozone is entering a critical period of uncertainty, the crisis can be resolved by making banking union a priority.
Although the IMF applauded all the efforts of late to restore balance on the European continent – through major policy decisions and bailouts – the financial markets are still experiencing “acute stress”.
A strong commitment toward a vigorous and absolute monetary union would certainly contribute to restoring faith in the continent, which will interest British professionals moving to Europe.
The IMF expanded: “This should encompass a credible path to a banking union and greater fiscal integration, with better governance and more risk sharing.”
It has also been suggested that the European Central Bank (ECB) is key to a greater union of banking and stabilisation within the eurozone.
For example, if the ECB were given more power, like administering quantitative easing, which would see it buying debt from nations, pressure would certainly be alleviated on finances across Europe.
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