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"….
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