Tuesday, May 7, 2013

German Finance Minister softens stance on EU bank union

Reuters reports that German Finance Minister Wolfgang Schaeuble signaled a softening of his stance on a European banking union on Tuesday, saying the euro zone should press ahead using current law without seeking treaty changes.

Just last month, Schaeuble appeared to slam on the brakes by saying the European Union needed to consider treaty change before proceeding, due to the "doubtful legal basis" on which the project rested. Those comments sparked a backlash from EU officials and German partners like France.  On Tuesday however, at a Berlin university event with his French counterpart Pierre Moscovici, Schaeuble struck a more conciliatory tone, calling banking union a "priority project" and promising to press ahead with it "quickly"….

No comments:

Post a Comment