• Over-burdening Germany wouldn’t help euro
  • Convinced debt crisis can be overcome
  • Crisis is 4-5 years in, there’s some way to go
  • Need single banking oversight body
  • Systemic banks should be first focus of oversight
  • Unlikely banking union can be completed by January 1
  • Banking union needs credibility rather than speed
  • Need to reassure markets with banking union
  • Can’t allow ESM bank recapitalizations before bank oversight
  • Bank oversight must be first, then ESM recapitalization
  • EU bank supervision must be globally credible
  • Euro bloc must cut debt to cut dependency on markets

Finally

  • Her efforts meant to help Europe, not anger people.

Bloomberg reporting.

She’s still going……………………BUT I’M NOT!!!