Merkel Rejects Joint EU Deposit Insurance for Foreseeable Future

Germany backs joint European bank supervision “completely,” chancellor says. *Germany rejects central deposit insurance “for the foreseeable future,” backs coordinating insurance among euro countries: Merkel *Need mechanisms to ensure “deposit insurance is harmonized and that a resolution mechanism is at least operating in euro countries,” Merkel says *Basel III rules must be implemented beyond Europe: Merkel *Merkel comments in speech to savings bank officials in Dresden

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