The European Union has finalized their latest technocratic scheme in the form of a banking union that will centralize oversight of banks to ensure investors are protected.
The EU parliament and member states broke a deadlock vote to install this joint authority venture that will restructure current banking standards.
This consolidation of banks includes the establishment of rules and institutions that control and mitigate banking failures to manage public finances and have better control over monetary rescues such as the financial injection into Ireland in 2010.
Selling the idea that this move will “strengthen confidence and stability in the financial markets and help restore lending to the economy”, the EU is searching for more oversight on banking practices to avert more monies being lost to crashes.
Under the thumb of the European Central Bank (ECB), other financial corporations would be subject to:
• Supervision
• Specialized funding to rescue other banks
The creation of the single resolution mechanism (SRM) would be monies set aside to keep banks from failing when nations could not raise the funds to keep banks open while also make decisions on which banks would be saved.
The ECB explained that “the fund would be able to order the bank restructured, sold or closed down. Bank shareholders and creditors would be asked to take losses before taxpayers. Beyond that, the fund will have 55 billion euros ($76 billion) to put into banks, if needed. The money will be raised from levies on banks.”
Under this new control, the ECB will close banks that are “too weak to survive [to] an end to the era of massive bailouts.”
Two years ago, at a European Council Summit in Brussels, Germany, the centralization of financial power was established.
All banks, except for the ECB are now under centralization regulation of SRM by 2014.
German Chancellor Angela Merkel , explained that caution for the success of the encompassing merger of financial institutions must be observed.
Merkel said: “Concerning the move towards banking supervision, we have decided to move forward with the principle that quality is more important than rapidity. This means we will not have a working banking supervision at the beginning of 2013.”
This scheme lays out an international legal framework that created a single supervisory mechanism (SSM) to justify this new system of controlling fiat distribution and acquisition for the purpose of regulating capital and liquidity with technocratic oversight compliance for more than 6,000 banks in the Euro Zone.
Considered a “revolution” this usurpation of monetary power over sovereign nations in Europe will have one “supervisor for the whole of Europe.”
Nations will no longer be permitted, by international mandate, to manage their own finances. The Technocrats are using the global market crash of 2008 as validation for their self-imbued rule.
Read more
The EU parliament and member states broke a deadlock vote to install this joint authority venture that will restructure current banking standards.
This consolidation of banks includes the establishment of rules and institutions that control and mitigate banking failures to manage public finances and have better control over monetary rescues such as the financial injection into Ireland in 2010.
Selling the idea that this move will “strengthen confidence and stability in the financial markets and help restore lending to the economy”, the EU is searching for more oversight on banking practices to avert more monies being lost to crashes.
Under the thumb of the European Central Bank (ECB), other financial corporations would be subject to:
• Supervision
• Specialized funding to rescue other banks
The creation of the single resolution mechanism (SRM) would be monies set aside to keep banks from failing when nations could not raise the funds to keep banks open while also make decisions on which banks would be saved.
The ECB explained that “the fund would be able to order the bank restructured, sold or closed down. Bank shareholders and creditors would be asked to take losses before taxpayers. Beyond that, the fund will have 55 billion euros ($76 billion) to put into banks, if needed. The money will be raised from levies on banks.”
Under this new control, the ECB will close banks that are “too weak to survive [to] an end to the era of massive bailouts.”
Two years ago, at a European Council Summit in Brussels, Germany, the centralization of financial power was established.
All banks, except for the ECB are now under centralization regulation of SRM by 2014.
German Chancellor Angela Merkel , explained that caution for the success of the encompassing merger of financial institutions must be observed.
Merkel said: “Concerning the move towards banking supervision, we have decided to move forward with the principle that quality is more important than rapidity. This means we will not have a working banking supervision at the beginning of 2013.”
This scheme lays out an international legal framework that created a single supervisory mechanism (SSM) to justify this new system of controlling fiat distribution and acquisition for the purpose of regulating capital and liquidity with technocratic oversight compliance for more than 6,000 banks in the Euro Zone.
Considered a “revolution” this usurpation of monetary power over sovereign nations in Europe will have one “supervisor for the whole of Europe.”
Nations will no longer be permitted, by international mandate, to manage their own finances. The Technocrats are using the global market crash of 2008 as validation for their self-imbued rule.
Read more
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