Plans underway by Angela Merkel’s Chancellory could see the power to deal with struggling banks move from national to European level.

A former senior executive at Bankia is to receive a 14-million payoff in a move that will cause controversy beyond the country’s borders.

FormerRoyal Bank of Scotland boss stripped of his knighthood after its collapse under his stewardship.

Doubts were raised about whether the Europe-wide "stress tests" of more than 90 banks published in July had been thorough enough.