As disagreement grows over whether a system to wind up Europe's failing banks - a central tenet to region-wide banking union – requires treaty change, France's finance minister told CNBC that Europe should let its lawyers work it out.
"My interpretation is that we don't need a treaty change. It's also, as far as I understand, the interpretation of the European Commission and the way the president of the Eurogroup sees [it]," Pierre Moscivici said on Monday.
"Let's give the work to the lawyers; let them say if it's necessary or not. We have very good lawyers here as well as in the European Commission and the European Council. If it's proven there is no need for a treaty change, then let's do our work and let's implement this authority - which is certainly something which will be key in the architecture of the system of the banking union."
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"If it happens that there is a need for treaty change, then we'll consider how to do that. But, the goal in my view is to be maintained in any kind of situation," he added, speaking after a meeting of the Eurogroup of finance ministers at which disagreements over the legal framework for a banking union were discussed.
Germany's finance minister,Wolfgang Schaeuble,warned this weekend that the creation of a new system of bank resolution in the euro zone required EU treaty change that could take years.