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German finance minister calls for urgent progress on EU banking union

German finance minister calls for urgent progress on EU banking union
FILE PHOTO: German Vice Chancellor and Finance Minister Olaf Scholz looks on during the "Open Door Day" of the Federal Ministry of Finance in Berlin, Germany, August 17, 2019. REUTERS/Annegret Hilse -
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Annegret Hilse(Reuters)
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FRANKFURT (Reuters) – German finance minister Olaf Scholz on Thursday called for the European Union to renew its efforts to strengthen its banking and capital markets union.

Scholz, speaking via video to a banking conference in Frankfurt, said progress was “urgent” and needed “as quickly as possible”, and would help European banks compete with their U.S. counterparts.

(Reporting by Tom Sims, editing by Riham Alkousaa)

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