Portuguese Finance Minister Maria Luís Albuquerque publicly rejected the banking sector's request to split European financial reform into two distinct phases. The position was expressed in statements to financial news agency Bloomberg.
According to Maria Luís Albuquerque, the reform must be treated as a whole, as all its components are interconnected. The Minister stressed that only an integrated approach will allow meaningful results to be achieved.
The official stated that it is necessary to address the real obstacles that have hindered the progress of negotiations. Among these problems, Maria Luís Albuquerque identified primarily the existing fragmentation in the European market and the persistence of debates about which country should host certain functions or financial institutions.
