G-20 Meeting To Provide Fireworks Over How to Handle EU Debt Crisis

“European Union nations are set to clash over plans to centralize the handling of failing banks, asGermany warned that the bloc is running out of road to adopt crisis-fighting measures under its current treaties.

German Finance Minister Wolfgang Schaeuble told his EU counterparts at a meeting in Dublin April 12-13 that there isn’t enough of a basis in the EU’s current rulebook for building a common authority and fund for bank failures. Other nations, including France, Luxembourg, andDenmark, are urging swift progress on putting in place a resolution system, amid concerns that treaty changes would cause unacceptable delays….”

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