As soon as possible, the European Union should establish a corporation that would shut down or bail out problem banks, says the International Monetary Fund.
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The agency would be part of the Eurozone’s push to clear debt and spark a stronger economic comeback, reports Reuters.
The European Union is pushing to create a stronger banking union between members. But the proposal recently suffered a setback as a legal advisor to the EU found the plan in its present form is not legal, the Financial Times reports.
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