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.
European Union ministers overcame German unease on direct aid to lenders and agreed on rules for how public funds can be made available for banks shown to have insufficient capital in upcoming balance-sheet checks.
Thomas Wieser, an Austrian finance official, is due to become the permanent head of two European Union committees on the front lines in combating the debt crisis, two people familiar with the decision said.
Euro-area finance chiefs may grant Greece more time to meet its bailout targets even as they split on whether the country needs another debt writedown and Greek politicians squabble over further austerity measures.
The “troika” of the European Commission, International Monetary Fund and European Central Bank will have a permanent presence in Greece, Eurogroup Working Group head Thomas Wieser told Austria’s Format magazine.