Hard fought concessions won by German finance minister Wolfgang Schaeuble on the EU's banking union plans have come under friendly fire from his social democrat coalition partners.
Under a painfully agreed compromise reached in December to accommodate Schaueble's demands that the German taxpayer should not be put on the hook for bank liabilities across the eurozone, a single resolution fund to eventually be worth €55bn, will be built up over a ten-year period.
Meanwhile, its use...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.