Schaeuble at Odds With ECB on Pooling Bank-Failure Fund

German Finance Minister Wolfgang Schaeuble squared off with the European Central Bank over the pace of pooling bank levies in a euro-area resolution fund, potentially slowing the proposal’s progress into law.

ECB Executive Board member Benoit Coeure said last week that the proposed 10-year time for merging national contributions to the Single Resolution Fund “is too long and should be shortened, possibly to five years.” A day later, ECB President Mario Draghi underscored this assessment.