June 11, 2018 / 10:16 AM / in 9 months

Eurogroup chief sees draft deal on bank fund backstop by end-June

LISBON, June 11 (Reuters) - Euro zone finance ministers should agree in principle on a backstop for the Single Resolution Fund for banks in time for an EU summit at the end of June, their chairman Mario Centeno said on Monday.

Speaking at a conference in Lisbon, Centeno said “only some details need to be fine-tuned in the negotiations such as the decision process in using the backstop and its introduction date, which could be before 2024”.

“But I expect that at the end of the month we could have an agreement in principle.” (Reporting By Andrei Khalip and Sergio Goncalves; editing by John Stonestreet)

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