– Told MPs Eurogroup May Have To Meet Again Next Week: Source
BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble told
lawmakers from Chancellor Angela Merkel’s CDU/CSU bloc on Tuesday that
Eurozone finance ministers meeting this week might not reach an
agreement on a legal framework for joint European banking supervision,
said a source who attended the meeting.
According to the official, Schaeuble explained at the CDU/CSU
parliamentary group meeting that there were still some complicated
problems to resolve and that the Eurogroup might have to reconvene next
week.
Schaeuble said it was still unclear how the ECB could be
democratically controlled when it exercises the function as European
financial watchdog and that it was still open which banks should come
under its control, the source said.
In an interview over the weekend, Schaeuble said: “We are working
with high intensity on getting the legal basis for banking supervision
before Christmas.”
“Building up this supervision can then start in 2013,” he added.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@mni-news.com
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