EU Parliament head Martin Schulz warns of tough talks on banking union

BRUSSELS: European Parliament head Martin Schulz warned Thursday that EU leaders face "very long negotiations" with lawmakers over a new bank regulatory system which many of them believe falls well short of what it should be.

Euro Zone Resolution Plan Should Cover All Banks, ECB Says

FRANKFURT--A planned euro-zone system for handling failing lenders should cover all of the region's banks and be in place by the time the European Central Bank takes up its duties as the region's chief banking policeman, the ECB said Friday.