Article source
Reuters
Article date
Mon, Sep 9, 2013
International Monetary Fund chief Christine Lagarde urged euro zone governments on Tuesday to make quick progress on their proposed banking union, to put the bloc's crisis definitively behind it.
European efforts to construct a joint backstop for the region are stumbling ahead, with France and Germany split on key pillars of the system, which is supposed to rebuild confidence in the euro zone's banks.
"We very much think of the euro area as a beautiful ship that has been built, nurtured .. for the soft seas, but which is not yet completely finished for the rough ones," Lagarde said at a conference in Paris.