Villeroy de Galhau calls for banking union to be completed
French governor proposes creation of common deposit mechanism
The eurozone should resume efforts to complete the banking union before another crisis hits the region, said Banque de France governor François Villeroy de Galhau, in a speech on September 10.
The eurozone is now overseen by the Single Supervisory Mechanism, but its officials have failed for years to agree on the creation of a common deposit insurance scheme (EDIS). In order to break the impasse, the French governor proposes the creation of a ‘common deposit mechanism’.
“By changing the name
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