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Eurogroup Chief Paschal Donohoe said Thursday that agreement on a roadmap to complete the EU banking Union would be postponed to a later date, noting that while a lot of progress had been made in the talks, this had not met the "ambition and credibility" of the mandate he had set himself in this area.

Donohoe made the comments ahead of the Eurogroup meeting later in the day. He added that, while progress had been made in narrowing disagreements, "the time wasn't sufficient to deliver what I believe was critical - to deliver a workplan that was credible and one that created an incentive for further action and momentum."