The European Union’s 28 member states are on track to reach an agreement on bank resolution by the end of 2013, said Thomas Wieser, the official in charge of preparing meetings of euro-area finance ministers.
The European Parliament’s top financial lawmaker said time has run out for the assembly to deal with proposals to regulate the structure of banks in a bid to prevent lenders from becoming too big to fail.
European Central Bank Governing Council member Erkki Liikanen signaled governments shouldn’t expect further ECB action to fight the debt turmoil, and said officials mustn’t wait too long to unwind crisis-fighting tools.
When Katja Taipalus came home from school every day in the Finnish town of Jalasjaervi, she knew her working parents wouldn’t be there. Instead, her retired grandfather, who also lived in the large wooden house, played cards and other games with her. They even repaired a car.
European Central Bank policy makers played down market expectations that a new round of long-term loans is imminent, even after President Mario Draghi indicated that he’s ready to provide funds to banks if needed.