EU summit October 2012

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The October 2012 EU Summit took place from October 18-19, 2012 in Brussels , Belgium . It was chaired by the Belgian Herman Van Rompuy , President of the European Council .

subjects

The dominant theme of the meeting was uniform banking supervision for the euro zone . The decision in principle on banking supervision had already been taken at the summit in June 2012, but decisions to implement the decision had been postponed to the October meeting.

The central point of discussion on the subject of banking supervision was once again the question of liability and control. After long negotiations, the heads of state and government agreed to agree the legal framework for banking supervision by the end of the year and to implement it in 2013. An exact time has not been announced. In addition to France , Spain had also called for banking supervision to be implemented by January 1, 2013. A new banking supervision was necessary for direct financial aid from the Euro rescue fund ESM to ailing banks. Previously, these could only be paid to Member States . The decision to introduce banking supervision in 2013 was a setback from the Spanish perspective. The German Chancellor Angela Merkel urged that work on the new banking supervision quickly, "but also of course very thoroughly" to make. "We have always said that quality has to come before speed," stressed the Chancellor. "The goal is banking supervision that deserves the name," she continued. Finland and Sweden supported this view.

In addition to banking supervision, the situation in Greece was discussed again. The EU heads of government appealed to the country not to let up in reforms . Contrary to many expectations, the critical situation in Spain was not discussed.

Individual evidence

  1. ↑ a b c Heads of State agree on a rough roadmap for banking supervision. EU summit. faz.net, October 19, 2012, accessed December 13, 2016 .
  2. ↑ The unsuccessful time game of the euro rescuers. Comparison of the appointment calendar as the only result. welt.de, October 19, 2012, accessed on December 13, 2016 .
  3. ↑ a b Carsten Volkery: The three major construction of the Euro-zone. Reconstruction of the monetary union. spiegel.de, October 19, 2012, accessed on December 13, 2016 .
  4. ↑ a b Merkel prevails in the dispute over banking supervision. EU summit. manager-magazin.de, October 19, 2012, accessed on December 13, 2016 .
  5. ↑ Germany blocks fast EU banking supervision. EU summit. zeit.de, October 18, 2012, accessed on December 13, 2016 .