Officials question prospects of euro-zone banking union

02/11/2013 | Reuters

Some European officials are increasingly pessimistic about the chances of finishing banking-union regulations by year-end. The biggest sticking point is the establishment of a resolution fund, which would take responsibility for failing banks. Analysts expect no German agreement on fund creation before an election in September, making finishing the law unlikely. "It's unrealistic to expect that we will have a resolution authority or resolution fund in time for the new [European Central Bank] bank supervision in March 2014," EU lawmaker Sharon Bowles said.

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