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Bank building:finance ministers will attempt to reach a deal on banking union on the eve of the December summit (Photo: orkomedix)

Franco-German rift derails banking union deal

EU finance ministers will return to Brussels on the eve of the December EU summit next week for last ditch talks on the controversial banking union proposals, after failing to reach agreement on Tuesday (4 December).

Speaking with reporters following the conclusion of talks, Vassos Shiarly, the Cypriot finance minister, said that agreement was very close. However, Articles 5, 19 and 27, which deal respectively with the role of national regulators, the composition and decision making pro...

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

Bank building:finance ministers will attempt to reach a deal on banking union on the eve of the December summit (Photo: orkomedix)

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Author Bio

Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.

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