EU Puts Banking-Union Credibility on Line in Talks
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The credibility of Europe’s efforts to restore confidence in its financial system hangs in the balance as lawmakers try to broker a deal on a bank-failure authority for the 18-nation euro area.
As U.S. Treasury Secretary Jacob J. Lew tours European Union capitals to push for tougher banking regulations, European Parliament legislators and officials from Greece, which holds the EU’s rotating presidency, begin negotiations in Brussels today to create a central agency for saving or shuttering euro-zone banks before elections in May.