The banking union at the summit of five European MoF

Starting from the talk on Monday night in Berlin, German Finance Minister Wolfgang Schäuble together with his counterparts from France, Italy, Spain and the Netherlands, as well as representatives of the European Commission and the European Central Bank, will have an initial discussion on the banking union of Europe.

On Tuesday the scheduled meeting ministers of Finance of member-countries of the Eurozone and on Wednesday at the meeting of Ministers of the European Union, officials will discuss for the first time the issue of the European banking union and the mechanism for the reorganization or liquidation of banks.

This mechanism will allow the finding of solutions for the Eurozone banks facing problems without the use of state funding.

Two weeks ago Schäuble had again invited his counterparts to discuss the same topic.

"Everything will be studied in the smallest detail, everything will be clarified," the spokesman of the German minister, Martin Kotthaus, said.