Sharp differences over how a vaunted 'Banking Union' would close failing banks before they seriously damage the underlying economy surfaced at an EU finance ministers meeting Friday.
The euro sign outside the European Central Bank headquarters in Frankfurt. Eurozone finance ministers warned against complacency Friday as the economy recovers from a record recession, insisting the return to growth does not mean that painful reforms can be relaxed.
Embraced initially as essential to head off future crises, several member states, including Germany and non-euro Britain, are now reluctant to give up their right to supervise their own banks.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.