German Chancellor Angela Merkel says plans for a new European banking supervisor must not be rushed and sees no need for joint European deposit insurance.
Creating a banking supervisor is a key part of Europe’s attempts to end its three-year debt crisis, partly because it has to be in place before other measures can be considered. The European Commission has irked Berlin with plans to have the new supervisor oversee every bank in the eurozone. Other issues include a Europe-wide deposit insurance plan; one method for winding down bankrupt banks; and allowing the European bailout fund to directly help banks in trouble.
JOIN THE DISCUSSION | Register here
We welcome comments. Please keep them civil, short and to the point. ALL CAPS, spam, obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. Thanks for taking part — and abiding by these simple rules. A thorough explanation of rules of conduct can be found in our Terms of Service. If you have any questions, including why your comment may not be showing immediately after you submit it, be sure to visit the commenting FAQ.