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MNI: EU FinMins Scale Down Banking Union Ambitions

(MNI) Brussels
(MNI) Brussels

Euro Zone finance ministers, are scaling back ambitions of talks aimed at completing the Banking Union to focus more precisely on how to streamline bank failure and bank resolution procedures. The shift occurred at a meeting of euro finance officials last week, officials have said, when the differences between member states became obviously unbridgeable.

Finance ministers have worked hard in recent weeks to agree a comprehensive work plan on Banking Union, but at a preparatory meeting for this Thursday’s Eurogroup, there was said to have been a “realisation that there were still quite a lot of issues still to be solved.”

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Euro Zone finance ministers, are scaling back ambitions of talks aimed at completing the Banking Union to focus more precisely on how to streamline bank failure and bank resolution procedures. The shift occurred at a meeting of euro finance officials last week, officials have said, when the differences between member states became obviously unbridgeable.

Finance ministers have worked hard in recent weeks to agree a comprehensive work plan on Banking Union, but at a preparatory meeting for this Thursday’s Eurogroup, there was said to have been a “realisation that there were still quite a lot of issues still to be solved.”

Keep reading...Show less