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Hollande, Merkel differ over EU banking supervisor

Hollande, Merkel differ over EU banking supervisor
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French president Francois Hollande is set to clash with German Chancellor Angela Merkel in Brussels on Thursday.

EU heads of government are in the Belgian capital for a two-day summit on the eurozone crisis.
Hollande and Merkel do not see eye-to-eye on where the bloc’s priorities lie.

Paris wants to speed up moves to create a single European banking supervisor.

But Merkel argues stricter fiscal discipline is more urgent.

She wants the EU economics commissioner to be granted more powers to block national budgets that breach European rules.

Germany argues they should have the authority to veto budgets that fail to respect agreed limits on state spending.