How to design a banking union that will save the eurozone

FT.com

"The idea of a banking union makes sense because it addresses the feedback loop between sovereign weakness and banking weakness.
The concept has been endorsed by several eurozone governments (including France, which used to be lukewarm about it), by the European Central Bank and the European Commission, by the UK (provided it is not asked to take part) and by the International Monetary Fund.
Germany has reservations, but they do not seem to be absolute.

There is, however, distance from concept to realisation."