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Merkel raises new hurdles on EU bank union

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YVES HERMAN

European Commission President Jose Manuel Barroso (L) and European Council President Herman Van Rompuy hold a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders met in Brussels for talks intended to try to bridge deep differences over plans for a banking union. REUTERS/Yves Herman

European Commission President Jose Manuel Barroso (L) and European Council President Herman Van Rompuy hold a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders met in Brussels for talks intended to try to bridge deep differences over plans for a banking union. REUTERS/Yves Herman
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Photographer
YVES HERMAN

European Commission President Jose Manuel Barroso covers his mouth as he yawns at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders took a big stride towards establishing a single banking supervisor for the euro zone, striking a deal under which the bloc's rescue fund could start recapitalising ailing banks next year, a French government source...more

European Commission President Jose Manuel Barroso covers his mouth as he yawns at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders took a big stride towards establishing a single banking supervisor for the euro zone, striking a deal under which the bloc's rescue fund could start recapitalising ailing banks next year, a French government source said. REUTERS/Yves Herman
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Photographer
YVES HERMAN

Germany's Chancellor Angela Merkel speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalise troubled banks. REUTERS/Yves Herman

Germany's Chancellor Angela Merkel speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalise troubled banks. REUTERS/Yves Herman
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Photographer
YVES HERMAN

Germany's Chancellor Angela Merkel speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalise troubled banks. REUTERS/Yves Herman

Germany's Chancellor Angela Merkel speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. Merkel said on Friday that a single European banking supervisor would be built up in the course of next year and must be completed before euro zone rescue funds may directly recapitalise troubled banks. REUTERS/Yves Herman
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CHRISTIAN HARTMANN

France's President Francois Hollande speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders took a big stride towards establishing a single banking supervisor for the euro zone, striking a deal under which the bloc's rescue fund could start recapitalising ailing banks next year, a French government source said. REUTERS/Christian Hartmann

France's President Francois Hollande speaks at a news conference at the end of the first session of a two-day European Union (EU) leaders summit in Brussels October 19, 2012. EU leaders took a big stride towards establishing a single banking supervisor for the euro zone, striking a deal under which the bloc's rescue fund could start recapitalising ailing banks next year, a French government source said. REUTERS/Christian Hartmann
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