2 Sep 2013
German official warns against hasty proposals for EU banking union at G20 summit
FXstreet.com (Barcelona) - According to a German official, speaking ahead of the G20 meeting which kicks off this Thursday in St Petersburg, Russia, no hasty proposals for the Eurozone banking union should be made at the summit.
"We don't want to destabilize markets with unrealistic proposals so the time plan has to be realistic," the official said, suggesting that such decisions should rather be made in 2014.
Furthermore, the German official said that the situation in Syria would most probably overshadow other topics at the G20 meeting. He suggested however that G20 leaders would also discuss volatility on emerging markets.
"We don't want to destabilize markets with unrealistic proposals so the time plan has to be realistic," the official said, suggesting that such decisions should rather be made in 2014.
Furthermore, the German official said that the situation in Syria would most probably overshadow other topics at the G20 meeting. He suggested however that G20 leaders would also discuss volatility on emerging markets.