World Bulletin / News Desk
A proposal for a banking union in the euro zone will be made in early September, European Commission President Jose Manuel Barroso said on Thursday.
"The Commission is working intensively towards the creation of a banking union. In early September we will make a proposal for a single supervisory mechanism," Barroso said after holding talks with Greek Prime Minister Antonis Samaras. "This will rely on the European Central Bank as regards the euro area."
Barroso also said he was convinced Greece would continue in the euro zone and would get support from the European Commission as long as it continued on the path of reforms.
"We will do whatever is necessary to ensure financial stability of the euro area," he said.
However, regional markets struggled as profit-takers moved in after a healthy week and traders were spooked by reports the man probing Donald Trump's links to Russia will also investigate his business dealings.
In initial deals in the eurozone, Frankfurt's DAX 30 slipped 0.2 percent to 12,424.80 points and the CAC 40 in Paris also slipped 0.2 percent to 5,188.92 points compared with the closing levels on Thursday.
The greenback had soared along with global markets for months after Trump's November election victory on hopes his big-spending, tax-cutting policies would fire up the world's top economy and fan inflation.
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The application "will allow EasyJet to establish a new airline, EasyJet Europe, which will be headquartered in Vienna and will enable EasyJet to continue to operate flights both across Europe and domestically within European countries after the UK has left the EU," the no-frills airline said in a statement.
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