Flagship 'banking union' felled in growing EU clash | Bangkok Post: news

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Flagship 'banking union' felled in growing EU clash

Plans to create a "banking union" across eurozone and European Union borders collapsed Tuesday amid intractable wrangling between Berlin, London and Paris.

Plans to create a banking union across eurozone and European Union borders collapsed Tuesday amid intractable differences between Berlin, London and Paris.

After four hours wrestling with deep problems in the design of an initial supervisory regime, Cypriot Finance Minister Vassos Shiarly, who is chairing the talks, announced that more time was needed and called a fresh gathering on Wednesday, December 12.

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