independent

Sunday 20 April 2014

Now EU supervisor row hinders bank debt deal

THE Government is facing another hurdle to get a bank debt deal due to the disagreement over having a single banking supervisor for the EU, writes Michael Brennan.

German Chancellor Angela Merkel has made it clear that no deal will be agreed until there is an effective banking supervisor in place.

But European Parliament president Martin Schultz, who is visiting Dublin ahead of our EU presidency, said that he believed the December deadline for an EU banking supervisor would be missed.

"I'm afraid I must say clearly that will be another burden for the Irish EU presidency because I think we will switch to January, February, March," he said.

It means that the Government will have to get agreement on three complex issues during its six-month presidency.

The first is the European Central Bank becoming the banking supervisor, the second is the stalled negotiations on the EU budget and the third is a deal on our bank debt.

Irish Independent

Also in this Section

Classifieds

CarsIreland

Independent Shopping.ie

Meet, chat and connect with
singles in your area

Independent Shopping.ie

Meet Singles Now

Findajob

Apps

Now available on

Independent.ie on Twitter

More

Most Read

Daily Deals

Independent Gallery

Your photos

Send us your weather photos promo

Celebrity News