France and Germany disagreement the huge European Bank Union negotiations again broke up

"Bank Alliance is to establish a more powerful key part of the economic and monetary union, which is a European challenge afford to lose." Members of the European Commission responsible for Economic and Monetary Affairs Rennes said that the establishment of the League of European banks to the outside world urgency.

However, local time, on the 4th, the EU finance ministers meeting fruitless, the establishment of the Union of European banks plan suffered another hit.

EU finance ministers have agreed in principle to set up a bank Union as the euro zone's two largest economies, Germany and France on some of the key issues for the establishment of a single regulatory mechanism of the banking sector is still divided, especially on the European Central Bank in role in this regulatory mechanism.

German Finance Minister Wolfgang Schaeuble said the ECB's role in the European banking supervisory mechanism should be, but this does not mean that the European Central Bank should be responsible for establishing the regulatory mechanism.

"If you want the ECB's Governing all German banks, it is difficult to get the German parliament by not believe that any European institutions the ability to monitor thousands of European banks." Schaeuble said.

"We should not drag our feet." Moscovici, the French finance minister said, "France hopes that the European single regulatory mechanism covers all EU bank regulators implemented by the European Central Bank."

The finance ministers of the EU presidency Cyprus, said Mejia Hurley, 27 EU finance ministers failed to reach agreement on the establishment of a single regulatory mechanism of the European banking sector, the finance ministers will hold a special meeting on the 12th of this month for further discussion. However, Schaeuble warned after the end of the meeting of finance ministers, the rapid pace of the process of promoting the Banking Union, the European Union may be difficult to reach an agreement before the end of the year.

The meeting of EU finance ministers warned that the League of European banks, any signs of frustration will combat market. Countries such as France, Belgium, Spain and Italy, the finance ministers issued a warning to Germany: the deadline miss EU would be "dangerous".

Yesterday, European stock markets edged opened higher, the three major indexes rose more than 0.2% intraday, the market does not seem to be the EU finance ministers meeting fruitless. However, the Spanish bond auction results and weaker-than-expected euro zone retail sales data, the euro against the U.S. dollar finished lower.