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Cyprus News Agency: News in English, 12-11-14
CONTENTS
[01] Momentum in discussions for Single Supervisory Mechanism for Banks
[01] Momentum in discussions for Single Supervisory Mechanism for Banks
There is a momentum in discussions as regards the creation of a Single
Supervisory Mechanism (SSM) for banks in the Eurozone and in other EU
member states choosing to participate, said Tuesday European Commissioner
for Internal Market Michel Barnier.
Barnier, who was speaking at a press conference with Cypriot Minister of
Finance Vasos Shiarly, who chaired the EU Economic and Finance Council
(ECOFIN), said that the Commission and the Cyprus EU Presidency did
a great deal of work as regards the creation of a SSM, noting that "
there is a momentum in the discussions, and I think it is possible for
an agreement to be reached on this by the end of the year"
In his statements, Shiarly said that the Presidency informed the Ministers
about the progress made on the proposals aimed at establishing a single
supervisory mechanism for banks.
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