Merkel Says EU Leaders Aim to Avoid Banking-Union Summit Tussle

German Chancellor Angela Merkel said she wants to keep negotiations on Europe’s “very complicated” bank-failure system out of the summit of European leaders starting in two days’ time.

Merkel’s comments in an interview today with Germany’s ARD television, hours after she was sworn in for a third term, echoed European Central Bank President Mario Draghi’s criticism yesterday that proposals by euro-area governments on how to deal with failing banks may be too cumbersome to work.