The EU/Euro-area summit of June 28-29 would be the time to settle the transfer of all major banking sector issues from the national to the European level, according to analysts at Nordea Markets. Key Quotes “As time started ticking down to the meeting, the diversity of opinions has become apparent and the likelihood of the summit resulting in any noticeable reforms has declined. In addition, other topics such as migration are likely to dominate the discussion, taking away the attention on economic issues.” “A draw between the “Risk Sharing” and “Risk Reduction” teams? Our main scenario for next week’s summit game is a draw between the two teams, with a few “minor” scores for each. “Risk Sharing” goals: The European Stability Mechanism (ESM) will be reformed to function as a permanent back-stop to the Single Resolution Fund (SRF) for the Euro-area banking sector, instead of with national governments. The immediate significance of this decision would be miniscule not least because so far, the SRF has not been used even once. The “Risk Sharing” team will likely not get any clear victory on the European Deposit Scheme. Assessing the wins for the “Risk Reducers” is always tricky as they often manage to turn a result that seems like a loss into a win after the game is finished. While the “Risk Sharers” might win more funding to an investment budget for the Euro area, or even a stabilisation tool, the “Risk Reducers” will make sure that the size of such a budget will almost inevitably disappoint the judge. The “Risk Reducers” will also ensure that the recent discussion around Italian economic policy will eliminate any expectations regarding e.g. reforms which would increase common elements in public debt. We believe the “Risk Reducers” best chance of a goal is soft targets for how much bank NPLs will have to be reduced before they agree to the next game of the “Completing the Banking Union” championship.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD moves to session tops, closer to 1.3200 handle FX Street 5 years The EU/Euro-area summit of June 28-29 would be the time to settle the transfer of all major banking sector issues from the national to the European level, according to analysts at Nordea Markets. Key Quotes "As time started ticking down to the meeting, the diversity of opinions has become apparent and the likelihood of the summit resulting in any noticeable reforms has declined. In addition, other topics such as migration are likely to dominate the discussion, taking away the attention on economic issues." "A draw between the "Risk Sharing" and "Risk Reduction" teams? Our main scenario for next week's summit… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.