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IMF Lagarde Urges Quick EU Bank Union

The head of the International Monetary Fund has called for a proposed European banking union to be completed quickly.

Speaking at a conference in Paris, Christine Lagarde described the euro area as a “beautiful ship” but said it was not ready to sail in rough waters.

The banking union project is designed to prevent a repeat of the global banking crisis.

It could include a single banking supervisor, and pool national resources to rescue banks.

“We very much think of the euro area as a beautiful ship that has been built, nurtured… for the soft seas, but which is not yet completely finished for the rough ones,” Ms Lagarde told delegates.

“A lot has been done in relation to banking union. If I have a message today it is that that particular part of the ship needs to be finished, needs to be completed and speed is of the essence.”

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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