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Mario Draghi – Importatn Step for the Banking Union

Constantinos Philippides
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The president of the European Central Bank Mario Draghi today welcomed the agreement reached on the banking union after tough , hours of negotiations finance ministers of the countries of the European Union .

Earlier this week, in a speech to the European Parliament, Draghi had expressed the fear that a compromise could be very complicated and the method of financing it inefficient.

However today said that “welcomes” the agreement, calling it an important step towards completing the banking union.

“It is an important step towards the completion of our banking union”, he said upon his arrival in Brussels for a summit of the leaders of the EU member states, which are expected to discuss details of the agreement by European leaders.

The support of the ECB considered critical since the central bank will take the responsibility for the supervision of large European banks next year.

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