June 20, 2018 / 1:28 PM / in 4 months

Germany - European bank deposit insurance scheme is long-term project

BERLIN (Reuters) - German Finance Minister Olaf Scholz said on Wednesday that a European insurance scheme (EDIS) for bank deposits was a long-term project and the conditions for it did not exist currently.

German Chancellor Angela Merkel and German Finance Minister Olaf Scholz arrive for the weekly cabinet meeting at the Chancellery in Berlin, Germany, June 20, 2018. REUTERS/Hannibal Hanschke

On Tuesday German Chancellor Angela Merkel and French President Emmanuel Macron agreed to create a budget for the euro zone but they soft-pedalled on the EDIS idea.

Scholz said the euro zone budget was only a small part of the agreement with France. He also defended his idea of a Europe-wide unemployment insurance system to shield workers from mass unemployment during economic crisis.

Reporting by Tom Koerkemeier; Writing by Michelle Martin; Editing by Michael Nienaber

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below