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But bank union leaders have accused the government of reneging on promises to avoid layoffs.
Money is loosely inspired by Emile Zola's 1891 novel L'Argent, itself inspired by the collapse of the French bank Union Générale.
At an 11th-hour meeting, South Korea's top economic officials reached a modest breakthrough with bank union representatives, by getting labor officials to join a working-level committee to discuss specific issues through the night.
The institutions of a healthy democracy — government, corporation, school, bank, union, church, civic group, media organization — feel remote and false, geared for the benefit of those who run them.
Did they agree to move swiftly to a full-blooded banking union in which the toxic debts of countries such as Spain would be purged via the new bailout fund, or did they simply decide to inch towards a less rigorous bank union in which only future bad debt, not legacy ones, would be addressed?
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It failed to persuade the public and the bank unions of the need for reform.
Banks need to be fixed and an emerging banking union must credibly spread financial-sector risk.
Take the banking union.
Both sides are committed to banking union.
Do Europeans want a banking union?
Third, there was no banking union.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com