Germany said on Wednesday (17 January) that eurozone members should first agree on clear parameters for reducing risks in the banking sector before progress can be made toward completing a banking union through a deposit insurance scheme in the currency bloc.
Eurozone finance ministers pick the replacement for Eurogroup chief Jeroen Dijsselbloem on Monday (4 December), with four countries led by Portugal battling for the challenge of guiding the eurozone currency bloc through much needed reforms.
The chairman of euro zone finance ministers, Jeroen Dijsselbloem, will announce on 1 December the names of those who applied to succeed him, but there are still no clear front-runners for the election that will happen three days later.
Jeroen Dijsselbloem could well lose his role as chair of the EU body coordinating eurozone policy after his party was routed in the Dutch election. But there is a chance he could retain his position even if he is no longer finance minister in a new coalition.