skip to main content
Europe Weekly

EU Summit: Questions Remain on Banking Union

By Megan Greene, William Oman, Petar Atanasov, Jelena Vukotic, Danya Li Churanek and Mark Willis
Oct 19, 2012 11:00:00 AM | Last Updated

There still remain a number of questions surrounding the SSM, including what the establishment of the SSM will mean for direct bank recapitalization from the ESM. Pre-summit on October 18, German Chancellor Angela Merkel said very clearly in the Bundestag that the SSM must lay down a track record to prove it is effective before direct bank recapitalizations can take place. She may be incentivized to delay direct bank recapitalizations until after the German elections in September 2013, given that using ESM money for foreign banks could be unpopular with German voters. Leaders from France, Spain and Ireland want direct bank recapitalizations to occur immediately once the SSM has been established.

Access to this content is restricted to RGE clients.

If you have a client code, please enter it here to activate your client account.

Click here for a free trial.

Learn About Our Services:

RGE Research

Our dynamic and intuitive macroeconomic research platform keeps you on top of the extraordinary shifts that transform our global economy, allowing users to uncover unique connections and insights. Discover the resource central banks and that 70% of the world's leading hedge funds, asset managers, PE firms, banks and corporations around the world depend on.

Our market strategists build on the work of our macroeconomic research team, incorporating market dynamics to answer crucial questions and generate actionable investment recommendations. RGE's Market Research and Strategy team gives clients actionable insight across six key asset classes:

• Currencies • Commodities
• Credit • Equity • Gov’t Bonds / Rates
• Emerging Markets • Financials
• Cross Asset Model Portfolio

RGE Strategy

Sometimes, reading research is not enough. Many RGE clients participate at the Roubini Direct Access level to gain a deeper understanding of specific issues. Through interactive live sessions, we engage with world-class thinkers, encourage knowledge sharing, idea generation, risk identification and validation of client initiatives.

Learn More »

For information on becoming an RGE Client, please speak with an RGE Representative in New York at +1 212-645-0010, or in London at +44 (0) 207 092 8850, or email americas@roubini.com for the Americas, europe@roubini.com for Europe, the Midddle East and Africa, and asia@roubini.com for Asia/Pacific.

Publications

Our Research
?

Our Thoughts
?

Outlook Center
?

Central Bank Watch
?

Key Views
?

Scenario Analysis
?
RGE Clients can activate their account by updating Manage My Account

Top 10 Most Read

Our Thoughts
1. The Fed’s communication challenge; Ben to say: “read my lips"
Our Research
2. Unveiling the New Abnormal
Global Macro-Market Outlook
3. Venezuela Outlook: What Would Chavez Do?
Global Macro-Market Outlook
4. Commodities Outlook: The Fundamentals Just Ain’t Right
Our Thoughts
5. The Turkish and Brazilian protests and the electoral cycle that follows
Global Macro-Market Outlook
6. India Outlook: Time to Admit the Slowdown Is Structural?
Global Macro-Market Outlook
7. Spain Outlook: The First Rule of Holes Is ‘Stop Digging!’
Global Macro-Market Outlook
8. Indonesia Outlook: Pulling Forward the Pain
Our Thoughts
9. The minutes of the June BoE MPC meeting: no fireworks just yet
Global Macro-Market Outlook
10. Eurozone Outlook: Some Improvement, but Still Worse Than Necessary

ROUBINI FEEDBACK FORUM

What Do You Think?
Weigh in on Roubini.com's new look or report any problems you encounter.

Website Feedback Content Feedback