Schaeuble says Europe to get banking union underway quickly

BERLIN Tue May 7, 2013 4:41am EDT

BERLIN May 7 (Reuters) - German Finance Minister Wolfgang Schaeuble said on Tuesday Europe would get its banking union on its way quickly on the basis of current European Union treaties instead of waiting for treaty changes.

"It is a priority project," Schaeuble told a Berlin university auditorium, speaking alongside his French colleague Pierre Moscovici.

Schaeuble said Europe needed institutional changes in the medium-term but could not wait for this in order to solve current problems.

"We must make the best of it on the basis of the current treaties, and where we do not manage to achieve things institutionally, then we will work inter-governmentally or even bilaterally."

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