Europe News

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."

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 MoreHowmany European banks would passUS stress tests?

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