Draghi says ‘significant progress’ made on bank deal

IMG title=”” alt=”” src=”http://www.mineralfossil.com/wp-content/uploads/2014/03/wpid-2e6f1eeac0d018bfd23867b52b002ca4.jpg” IMG class=hide alt=”Draghi says ‘significant progress’ made on bank deal” src=”http://www.mineralfossil.com/wp-content/uploads/2014/03/wpid-2e6f1eeac0d018bfd23867b52b002ca4.jpg” (ANSA) – Brussels, March 20 – “Significant progress” has been made towards a banking union among eurozone nations, including an agency to deal with failing banks, European Central Bank President Mario Draghi said Thursday. The European Union said that measures negotiated during lengthy sessions concluding on Thursday will help to stabilize the banking system. PThe measures deal with how best to set up a joint authority among the eurozone memebers that can restructure or even close failing banks./PPThe new joint authority would be part of the broader banking union system, which is designed to ensure that in the future, if a bank fails it won’t threaten financial system stability./PPIt is also expected to ensure that a country’s budget and taxpayers will not be crushed by a bank failure./PIMG id=mediaViewer title=”” alt=”” src=”http://www.mineralfossil.com/wp-content/uploads/2014/03/wpid-trasp216.gif”ALL RIGHTS RESERVED