Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Sheets Says Europeans May Move Toward Common Deposit Insurance

Nathan Sheets, global head of international economics at Citigroup Inc., said European Union leaders meeting at a summit starting in Brussels tomorrow may agree on a program to ensure the safety of bank deposits.

“I do think we are going to hear from the summit some move toward common deposit insurance probably coupled with common bank supervision and regulation,” Sheets, former head of international finance for the Federal Reserve, said in a Bloomberg Television interview on the “In The Loop” program in New York. “The key question is what is the timetable.”

“The markets want to see something happen in weeks or months,” Sheets said. “The euro-area leaders tend to think in terms of years or decades. Bridging that divide in perspectives has really been one of the fundamental issues.”

If the plan were put in place in a few months, “that would go a long way to restoring confidence,” Sheets said.

The leaders will discuss a plan for closer European integration spearheaded by EU President Herman Van Rompuy that centers on common banking supervision and deposit insurance along with a “criteria-based and phased” move toward joint debt issuance. It also suggests the group could impose upper limits on annual budgets and debt levels of nations that use the euro.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.