June 20, 2013 / 10:19 AM / 4 years ago

Italy says worried by slow EU progress on banking union

ROME, June 20 (Reuters) - Italian Prime Minister Enrico Letta said on Thursday he was concerned to see that the European Union's plans to create a banking union were failing to respect agreed schedules, undermining prospects for the project.

Letta told reporters he wanted Italy to be in the forefront of creating a "United States of Europe" but countries like Germany were dragging their feet over one of the main planks of this construction: banking union.

He noted that common banking supervision would not be finalised by the end of July as planned, due to the slowness of ratification by the German parliament.

"If we don't discuss a common resolution of banks in crisis at the next meeting I have a feeling that the December 2013 deadline for this will also not be met," he said. (Reporting By Gavin Jones)

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