European Union banking News

European Union finance ministers struck a deal on a major reform of banking rules on Tuesday, addressing some of the loopholes exposed by the global financial crisis. The overhaul, proposed by the European Commission in November 2016, sets the level …

London’s financial center heaved a sigh of relief on Thursday after a landmark deal on Europe’s incipient banking union removed an immediate threat to ‘the City’s’ global position. The text thrashed out by finance ministers overnight makes the European Central …