The German government will nominate Claudia Buch as vice president of the Bundesbank, succeeding Sabine Lautenschlaeger as the only woman on the central bank’s board, said two people familiar with the coalition’s decision.
Wolfgang Schaeuble, Germany’s finance minister, blocked efforts by his European counterparts to speed the move to a common resolution fund as they rush to create a system for handling failing euro-area banks.
German Finance Minister Wolfgang Schaeuble said he sees leeway on details of a Single Resolution Mechanism plan agreed on by finance ministers last year, though the fundamentals of their proposal can’t be changed in talks with the European Parliament on the final form of the legislation. *“We agreed in the council on the fundamental lines in the December decision,” Schaeuble told reporters in Brussels today. “One can come to different solutions on individual questions, but in principle the structure must remain.” *Schaeuble on SRM: “We must act within the framework of the given legal foundations of the European treaties. As long as only the member states can levy a fee, they have to assume responsibility for the fee being levied.” *On direct recapitalization of banks by the European Stability Mechanism, Schaeuble said: “As the heads of state and government decided in June 2012, we need to create the preconditions and then we have it as a last resor