Schaeuble Says European Deposit Guarantee Plan Will Have to Wait

From bloomberg.com

A European deposit-guarantee system will have to wait until financial-stability measures already on the books, such as common bank resolution rules, are fully implemented, German Finance Minister Wolfgang Schaeuble said. Starting a debate on a euro-area deposit-guarantee system now would “put the cart before the horse,” Schaeuble told reporters in Luxembourg on Saturday after a meeting of European Union finance ministers. “The important point now is to implement what has been agreed.” One precondition for deposit-insurance talks is for all EU countries to enact the Bank Recovery and Resolution Directive, ... (full story)