Single EU bank supervisor 'not needed', Monti says

Italian PM eases Franco-German row

Single EU bank supervisor 'not needed', Monti says

(ANSA) - Brussels, October 19 - A single supervisor for the European banking system is not needed, Italian Premier Mario Monti said Thursday night, easing an EU summit row between German Chancellor Angela Merkel and French President Francois Hollande. The summit agreed to set aside the issue of the supervisor, advocated by Merkel to France's chagrin, and instead push forward with banking union, to be set up by the end of the year. Germany and other northean European countries still want more time than that to organise a banking union.

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