September 15, 2012 / 11:47 AM / 7 years ago

France says banking union deal possible by year-end

PARIS (Reuters) - Differences over the role of a joint European banking supervisor and the scale of its authority are not insurmountable, French Finance Minister Pierre Moscovici said on Saturday, adding he was convinced a deal could be reached by a year-end deadline.

“There are many questions on all of its aspects: the calendar for implementation, the perimeter of supervision, the role of the European Central Bank, the mechanism for supervision. It’s really a work in progress,” Moscovici told reporters at an EU finance ministers meeting in Cyprus.

“These differences do not appear insurmountable at all to me. I am convinced that we will get there before the end of 2012: both because it’s our duty and we have the possibility to do so,” he said.

Reporting By Daniel Flynn

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