German finance minister Wolfgang Schaeuble Monday (3 December) reiterated that no bank recapitalisation could take place until the EU's planned banking union is up and running.
The move deals a blow to ailing banks hoping for swift capital injections from the European Stability Mechanism.
Schaeuble was appearing alongside French Finance minister Pierre Moscovici at a hearing of the European Parliament's Economic and Monetary Affairs committee.
He said that "recapitalisation ...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.