Bank

The EU has completed the agreement on a banking union, its strongest instrument so far to tackle the financial crisis.

After marathon talks, the sealed document will ensure that Eurozone governments are not the only ones in charge of big national banks, the Financial Times has reported.

Piraeus Bank's comeback to the public bond market – the first from a Greek bank in over four years – has fueled hopes that its lenders are on the road to recovery, but capital demands are looming as the next big challenge.