Germany will support the European Commission’s proposals to build a continent-wide supervisory regime for the financial services sector but thinks “a lot of difficult questions” will need answering before these are turned into legislation this autumn, a senior government official said on Wednesday.
“The Commission’s proposals go in the right direction and we will support them at the European Council this month,” Jörg Asmussen, deputy finance minister and the architect of Germany’s bank-rescue action, said.
