Bank of Italy's Visco calls for full-fledged political union
A shared determination to advance towards a full European Union is essential and the creation of a single supervisor, in which the ECB and the national authorities play a pivotal role, is the first step, Bank of Italy governor Ignazio Visco said in a speech earlier this week.
He added that "it must be completed by a common blueprint for the resolution of banking crises and a common form of deposit insurance."
"In the absence of political union, the economic governance of the [eurozone] was based
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