German Chancellor Angela Merkel said it's an open question whether European policy makers can meet the deadline they'd set hours earlier to establish a euro-area bank supervisor by year-end.
"There are complicated questions to clarify and we'll see in December if we complete it or not," Merkel told reporters after a two-day European Union summit in Brussels wrapped up today. "For now, the political will is there."
The comments underscore Germany's go-slow approach that may stymie plan laid down in June to break the link between banks and governments that has worsened the region's debt crisis. She also ruled out allowing Spain to shift bank-bailout loans off its balance sheet if they are made before the new system starts operating.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
