EU Leaders Address Banking Crisis Amid Market Turmoil.
European leaders at an EU summit stressed that the region's banking sector is stable and sound following Deutsche Bank's sudden slide as markets opened for trade. German Chancellor Olaf Scholz said Deutsche Bank is a profitable business with no reasons for concern. The banking union is a set of laws introduced in 2014 to make European banks more robust. The debate has been politically sensitive, but the reality that high interest rates are here to stay has made it even more pressing. The idea for a true capital markets union is to make lending easier across the region.