LONDON (MNI) – The Eurozone could have an agreement on a banking
union in place by the second half of 2012, according to European Central
Bank Governing Council member Ewald Nowotny.
“A lot of details have to be hammered out. The first point is will
it apply to all of the EU? I’m rather skeptical about that because it
will be rather difficult to get the UK on board,” Nowotny told CNBC.
“Realistically, it would be a scheme for the Eurozone,” he said.
“That means it would not be within the context of the EU treaties, so it
would be a matter of inter-governmental agreement and this kind of
inter-governmental agreement, this could happen in the second half of
this year,” he added.
–London newsroom: 4420 7862 7492; email:
ukeditorial@marketnews.com
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