Finance
EU Nears Deal on Failed Lenders in Path to Closer Banking Ties
- Agreement by governments could come as soon as next month
- German reservations have largely been addressed, sources say
The package that governments are set to agree on is commonly-viewed as a key step toward deeper and even thornier reforms.
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The European Union is nearing a deal on measures that would make it easier to wind down smaller lenders that run into trouble, according to people familiar with the matter.
Governments may reach a deal on the crisis management and deposit insurance framework next month after addressing some concerns of countries including Germany, said one of the people, who asked to remain anonymous as an agreement has yet to be reached. Talks to hammer out the details together with other European authorities will probably continue into next year, they said.