Germany Open to Compromise on EU Capital Markets Union and Supervision
Germany's Stance on EU Capital Markets Union Negotiations
By Maria Martinez
Germany Signals Willingness to Compromise
BERLIN, May 26 (Reuters) - Germany is ready to compromise in negotiations on the European Union's capital markets union, including on the sensitive question of financial supervision, Finance Minister Lars Klingbeil said on Thursday.
Commitment to Advancing the European Project
"I am ready to compromise, I am ready to move as well, because I really want us to advance this important European project," Klingbeil said.
Importance of Capital Markets Union for Europe
He called the project a "game-changer" for Europe's economic sovereignty and said it is essential given geopolitical and geo-economic upheaval.
Upcoming E6 Group Meeting
Finance ministers from the E6 group — Germany, France, Italy, Spain, the Netherlands and Poland — are due to meet in Berlin on Thursday.
Key Issues: Supervision and Centralisation
The issue of supervision is one of the key issues in the negotiations and Germany has traditionally been cautious about centralising financial supervision at EU level, but Klingbeil stressed that Germany was willing to compromise.
Risks of Slow Progress and the Need for Unity
Klingbeil warned that Europe would move too slowly if each country insisted on getting "100%" of what it wants, or if the debate were framed in terms of winners and losers.
"For me, it is about the overall European project winning," Klingbeil said.
(Reporting by Maria Martinez, Editing by Linda Pasquini)
