Germany's Scholz calls for banking union in Europe
- Country:
- Germany
German Chancellor Olaf Scholz on Tuesday called for the completion of a European banking union, calling it a 'priority' and urging more uniformity in financial markets across the region.
Banking union is a project designed after the financial crisis to centralise supervision of big lenders at the European Central Bank.
A central element of the plan, however, a joint deposit protection scheme, has not been agreed in the face of German opposition.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Tom Sims
- European
- German
- John O'Donnell
- Olaf Scholz
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