European Union:
European Commission To Publish Legislative Proposal On Common Deposit Guarantee System By End Of 2015
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Jean-Claude Juncker, President of the European Commission, has
announced that the Commission will publish a legislative proposal
on first steps towards establishing a common deposit guarantee
system by the end of 2015. His view is that the crisis in Greece in
the summer of 2015 showed the need for a European deposit guarantee
system "disconnected from government purses so that citizens
can be absolutely sure that their savings are safe". The
proposal will follow on from the recommendation of the June 2015
Commission report on completing Europe's Economic and Monetary
Union (EMU).
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