GO
Loading...

Merkel: Completing banking rules getting harder

German Chancellor Angela Merkel said on Wednesday that finishing off planned regulations for international financial markets was getting increasingly difficult, although much had so far been achieved.

"Internationally, a lot has happened... but it is increasingly difficult to get regulations agreed," Merkel said at a banking event in Berlin. "We have done 80 percent but the last 20 percent is difficult."

171568849SG00043_CDU_And_CS
Sean Gallup | Getty Images

She reiterated that no political attempts must be made to influence banks' stress tests as that could damage the European Central Bank's reputation as a supervisory body and that Germany would continue to push the G20 group of nations to agree on better regulations for the shadow banking sector.

Read MoreHow many European banks would pass US stress tests?

Merkel also said Germany would need a second reform of renewable energy subsidies to legislate for the period from 2017.

Contact Europe News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Europe Video

  • Fintech to rule the world?

    Julian Skan, Accenture managing director overseeing the FinTech Innovation Lab London, talks about why there's been a surge in disruptive technology recently, saying that these technologies could change the business models for the banking industry.

  • Investing in Africa: Benefits for China

    Erik Prince, Chairman of Frontier Services Group, talks about his company and how it is helping other companies in Africa, and discusses China's investment in Africa.

  • Petrobras: Brazil needs a solution

    Juan Sartori, president and founder of Union Group, explains why the Petrobras scandal is such a big deal, saying that it impacts Brazil's credibility.