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19 December, 2015

Another proof that the Berlin political puppets have set as top priority the protection of the banking mafia

Merkel and Renzi showed to his colleagues lack of harmony and understanding about the next steps in the building known as the Union Bank , a project launched in the heat of the economic and financial crisis that hit hard at the eurozone.

German Chancellor “he repeated” and the lines advocated by his finance minister, Wolfgang Schäuble, at ministerial level: Germany did not support the creation of a European system of security deposits before they are reduced financial risks , explained various sources.

The conservative Merkel conveyed that “Germany is not completely against of a deposit guarantee scheme, but it has made stresses that we must establish a sequence (steps forward) and first reduce risks of the banking systems”, diplomatic sources said.


Preceded by Berlin reluctant comments, the European Commission presented in late November its proposal to create a European Deposit Guarantee System for the euro , which It was built from 2017 with funds provided by the bank and gradually culminating with a mechanism in 2024.

The proposal includes a Guarantee Fund European Deposits , which increased by a 0.8% of all deposits covered by the Banking Union-that is, the euro area and some other countries that have joined the project-which could rise to 43,000 million euros, according to the levels of deposits, 2011 .

Actually the guarantee of the deposits was officially terminated already since 2013 with ECOFIN decision:

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