BERLIN (Reuters) - Germany and France need to find a compromise necessary to complete a banking and capital markets union designed to shield the euro zone from future crises, French Finance Minister Bruno Le Maire said in remarks published on Sunday.
He said it was also important that euro zone member states finalise plans to allow their ESM bailout fund to become a backstop for the Single Resolution Fund (SRF) which is meant to finance the winding down of failing banks in the currency union.
"Without this (fiscal) convergence the euro zone will not survive in the long term," Le Maire told the Handelsblatt newspaper. "We discussed long enough and now is the time for decisions."
(Reporting by Joseph Nasr; editing by David Stamp)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app