Volker Wieland: Conditions for banking union are not yet met ("Börsen-Zeitung")

Volker Wieland supports the completion of the banking union. However, key prerequisites are not yet fulfilled, he said. At the triennial meeting of the savings banks in Baden-Wuerttemberg he urged to proceed slowly.

Before completing the banking union, the zero-risk weighting of government bonds should be ended, insolvency law had to be harmonized and non-performing loans had to be reduced, Wieland warned.

He also warned against meeting the demands of the French President Emanuel Macron for a joint budget with too much concession. Instead of accepting Macron's fiscal proposals, his ideas of a joint intervention force and frontier policy should be implemented, Wieland said.


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