October 18, 2018 / 3:13 PM / in a month

EU leaders agree to present banking union proposal by December summit: Merkel

FILE PHOTO: German Chancellor Angela Merkel holds a news conference at the European Union leaders summit in Brussels, Belgium October 18, 2018. REUTERS/Francois Lenoir

BRUSSELS (Reuters) - German Chancellor Angela Merkel said on Thursday that the leaders of European Union countries had agreed during a summit in Brussels to move forward with the banking union and a deposit guarantee.

“Everyone is determined to put a package on the table by the December summit that describes the banking union of the future and also says something about the roadmap - i.e. the way to a deposit guarantee and describes progress on the capital markets union,” Merkel told a news conference in Brussels.

She said the leaders had agreed that it was now time to further develop and stabilize the euro zone in view of risks such as those emanating from the trade conflict.

Reporting by Noah Barkin; Writing by Michelle Martin, editing by Thomas Escritt

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