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IMF’s Lagarde urges all euro members to push for banking union

Published: May 7, 2013 | 12:39 pm
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International Monetary Fund (IMF) Managing Director Christine Lagarde speaks at the seminar on Fiscal Policy, Equity, and Long-Term Growth in Developing Countries during 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington

(CNA)-

For European banking union to succeed, all EU member countries need to be in agreement, Christine Lagarde, managing director of the International Monetary Fund, said on Tuesday,Reuters reports.

“You need to have all the players at the table,” Lagarde, managing director of the IMF, told students at the University of Amsterdam when asked about Germany’s concerns.

The banking union is one of the key projects to improve the economy of the 17 countries sharing the euro. It would help eliminate many of the problems that now hold back the flow of credit needed to finance a euro zone economic recovery.

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