Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

IMF chief Lagarde says enhancing Eurozone banking union will help foster growth, create jobs

Dutch Finance Minister Jeroen Dijsselbloem, right, gestures while speaking with Italian Finance Minister Fabrizio Saccomanni, left, during a meeting of eurogroup finance ministers at the European Council building in Brussels on Monday, Jan. 27, 2014. Eurozone finance ministers on Monday were to discuss Greece's economic issues and the frustrating pace of negotiations. (AP Photo/Virginia Mayo)

Enlarge Image

Dutch Finance Minister Jeroen Dijsselbloem, right, gestures while speaking with Italian Finance Minister Fabrizio Saccomanni, left, during a meeting of eurogroup finance ministers at the European Council building in Brussels on Monday, Jan. 27, 2014. Eurozone finance ministers on Monday were to discuss Greece's economic issues and the frustrating pace of negotiations. (AP Photo/Virginia Mayo)

BRUSSELS - The International Monetary Fund is urging the 18-nation Eurozone to press ahead with its planned banking union reforms to lay the foundation for fresh growth and job creation.

IMF chief Christine Lagarde said Tuesday that the bloc must reinforce its institutions to stabilize its financial market and reduce "the very damaging link" of failing banks dragging down weaker governments' finances.

Lagarde insisted the bloc should therefore pursue its plan to create a pan-European authority to shut down or restructure failing banks, complete with its own financial backstop.

Plans to set up the so-called resolution authority are currently being discussed between the EU governments and the European Parliament in the hope of approving the legislation by mid-April.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Submit a Random Act of Kindness
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates