Central Banks
ECB’s Lagarde Tells EU Leaders That Banking Sector Is Strong
- EU leaders discussed banking union amid market turmoil
- Europe took right steps on regulation, Germany’s Scholz says
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European Central Bank President Christine Lagarde told European Union leaders that the euro-area banking sector is strong despite the continued market turmoil, according to people familiar with the matter.
Lagarde spoke on Friday to a gathering of EU leaders in Brussels, where they were discussing economic and monetary issues. She told them that the sector has held up because of the strong regulatory regime, and now it’s time to complete plans for a banking union.