February 3, 2020 / 9:38 AM / 13 days ago

ECB's De Guindos says banking union pivotal for euro zone

FILE PHOTO: European Central Bank (ECB) Vice-President Luis de Guindos attends a news conference on the outcome of the meeting of the Governing Council, in Frankfurt, Germany, September 12, 2019. REUTERS/Ralph Orlowski/File Photo

ATHENS (Reuters) - The European Central Bank’s vice-president Luis de Guindos said on Monday that “completing the banking union is pivotal” for the performance of the euro zone.

Speaking at the same conference in Athens, Greek central bank governor Yannis Stournaras also warned that the single-currency bloc needs a banking union to shield itself from another crisis in the future.

Reporting by Lefteris Papadimas

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