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Germany: No decision on banking union at EU summit

By Juergen Baetz
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BERLIN (AP) — A top German government official on Wednesday dashed hopes of swift progress on strengthening Europe’s financial sector, saying this week’s summit of the bloc’s 27 leaders won’t make any final decisions on setting up a single banking supervisor.

Many “legal, technical and political details” for a continent-wide supervisory authority still have to be hammered out, said the official, who briefed reporters on condition of anonymity in line with government policy.

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