EC President Unveils Banking Union Plan
The plan laid out by President Jose Manuel Barroso would not only allow the ECB to supervise all eurozone banks, but would also give it jurisdiction over a broader, and at first voluntary, EU banking base.
Moody’s Cuts Outlook on Germany, Luxembourg, Netherlands
Germany, the Netherlands and Luxembourg saw their outlooks downgraded to negative by Moody’s Investors Service late Monday as debt woes in the eurozone continued to worsen.
Estonia Joins Eurozone in New Year; 2 Years In, Slovakia Reconsiders
Estonia becomes the 17th nation in the eurozone on Jan. 1, 2011. Other recent joiners, and some potential ones, are rethinking membership in the common European currency.