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