Banking, finance, and taxes
France, Germany Fight Over Eurozone Budget Power
Published:
Last Updated:
German Chancellor Angela Merkel and French President Francois Hollande met briefly today before a summit meeting of eurozone leaders to discuss the role of the banking supervisor that is to be created by the end of this year under the control of the European Central Bank. The role that the supervisor would play in eurozone banking and national budgets is unclear and has been the source of much discussion and many harsh words since the supervisor was proposed in June.
Merkel continues to argue in favor of a supervisor with the power to veto national budgets if the budgets do not conform to European Union rules. Hollande is reported to have said that the issue of a fiscal union was not on the meeting’s agenda and that it is more important to establish a European banking union first.
Reuters reported that after their 30-minute meeting Merkel and Hollande agreed that there is a “tight timetable for introducing a banking union.” And the sun rises in the east.
Paul Ausick
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
