Nicosia (Reuters) - German silent how to quickly focus on banking supervision, with the French on Saturday caused in the European market tensions, urging rapid implementation of a plan designed to cope with the international financial crisis and to help the single currency.
The reform, which requires the approval of the EU's 27 member states, aims to break the struggling banks and indebted governments, interdependence, exacerbated by the region's debt crisis.
Authorized to police all of the banks in the euro zone, the recommendations of the European Commission of the European Central Bank, hoping to break this vicious cycle, the more in-depth financial cooperation in the whole of Europe and laid the foundation to support the euro currency.
On Saturday, EU finance ministers held in Cyprus to discuss the recommendations, but split after an overview of the work of trade unions in their early gathering Zhouwu banks experts.
Germany produced questioned, this is a major oversight keen to retain its regional savings and cooperative banks, the European Central Bank, should get powers to oversee all 6,000 banks in the euro zone, and think it is excessive expansion of bank.
German Finance Minister Wolfgang Schaeuble on Friday reiterated this view, wary of the possible deal, eurozone leaders set the target of the end of this year.
"My concern is that you run the risk of creating expectations among financial market participants, you can not fulfill," Schaeuble told reporters.
The officials said in Berlin, which will better slowly reform, water tight system, to ensure that in place.
Investors are closely watching developments as the supervision of the transfer of power, the European Central Bank to lift the lock to the possibility of providing direct assistance to banks in Spain, for example, from the euro zone's permanent rescue scheme, the European Stability Mechanism.
"I do not understand, can direct capital reorganization by the European stability mechanism on January 1," Schaeuble said strict conditions would apply to such assistance.
In contrast, France, German economic growth ground to a halt since the end of last year, bank investments in struggling countries such as Greece, calling for the rapid action.
When asked about whether he agrees Schaeuble supervision element of the Bank of the Commonwealth, to establish that starting from next year is unrealistic, Pierre Moscovici, the French finance minister, replied: "no."
"We can, we must go faster, we must not waste time to solve the eurozone crisis," he added, joint supervision should be applied to all areas of the bank. "The euro crisis is affecting everyone, including Germany, the euro zone this brawl is not a problem, but we must keep up with the pace of reform."
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Borrowing costs drive to establish a common framework for handling problem banks will mark a departure from the previous chaotic taken the 17 member states of the euro area, discouraging investors, and help weak countries.
A banking trade union is expected in three steps: obtaining regulatory powers of the European Central Bank in the wider EU euro zone banks and other supervisory agreed to establish a fund to close troubled banks and a comprehensive plan to protect the deposits of citizens throughout the Euro zone.
Will remain the task of the national regulatory authorities in view of the day-to-day-to-day supervision of banks, some officials suspect that Berlin is the real concern of the Commonwealth Bank, will see it pay the cost of supporting the weak country's lenders.
J?rg Aspen Rasmussen, a member of the European Central Bank's Board of Executive Directors constitute the core of their decision-making, and warned that the Bank of the Commonwealth can not work, not a fund to pay the cost of the industry to close the bank's deposit protection scheme.
Experts think tank Bruegel's Minister delivered a similar message on Friday.
The close ties between the government and the Bank supervision and also rely on them to buy their debt, have been dragged to the growing crisis.
Police Bank supranational institutions and the establishment of collective central planning to pay the fees paid by the banking consortium will close the failed lender to break the link.



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