A plan to set up a euro zone insurance for bank deposits is the key priority of the European Union to boost the bloc's economy, top EU officials said on Tuesday, pushing for a deal that has been fiercely opposed by Germany.
A European-level guarantee for savers is seen by many as a necessary complement to existing national bank guarantee schemes, which in some countries may not be able to protect deposits up to 100,000 euros
as EU rules require.
"I'm convinced that setting up and finishing the banking union will be more important for economic recovery than any other projects at the moment," the head of the euro zone finance ministers, Jeroen Dijsselbloem, told EU lawmakers in a hearing at the European Parliament in Strasbourg.
Read more:b European deposit guarantee is priority to revive economy - EU's Dijsselbloem | Reuters
A European-level guarantee for savers is seen by many as a necessary complement to existing national bank guarantee schemes, which in some countries may not be able to protect deposits up to 100,000 euros
as EU rules require.
"I'm convinced that setting up and finishing the banking union will be more important for economic recovery than any other projects at the moment," the head of the euro zone finance ministers, Jeroen Dijsselbloem, told EU lawmakers in a hearing at the European Parliament in Strasbourg.
Read more:b European deposit guarantee is priority to revive economy - EU's Dijsselbloem | Reuters
