The art of compromise

At 13:45 hours the European Commission made public their proposal regarding the establishment of a mechanism that would have the authority to deal with banking crisis. The proposed institution would oversee each one of the 6,000 banks –that many, indeed, I agree there are too many banks in Europe –that operate in the Eurozone.

A bit over an hour later, around 15:00 hours, Germany said no to the proposal.

In both cases, the positions were extreme, like two enemies in a war. It's a pity, at a time when the banking union should be moving faster. 

The art of balance, common sense and compromise is being lost in today’s Europe.