"It will never finish if we do not have a more robust system in Europe. "No week goes by without new revelations, new investigations," EU Commissioner Elzbieta Bienkowska told ministers. " (Reporting by Robert-Jan Bartunek; Editing by Philip Blenkinsop and Toby Chopra)
Costa said his government was working with the national central bank to further stabilise the banking sector by setting up a platform for banks to coordinate the repayment of debts, as many firms had loans with several lenders.
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German junior economy minister Matthias Machnig told fellow ministers at the meeting his country was in favour of strengthening oversight, but added he wanted assurances on how to avoid a conflict between different agencies.
BERLIN, May 30 (Reuters) - Portugal's banks show no signs of needing further state aid and the country does not need a bad bank, Prime Minister Antonio Costa told German newspaper Handelsblatt in an interview published on Tuesday.
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BRUSSELS, May 29 (Reuters) - EU ministers agreed on Monday on draft new rules for approving cars for sale in order to prevent a repeat of the Volkswagen emissions scandal and giving the European Commission the power to fine cheating manufacturers directly.
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Since the Volkswagen scandal, investigations of various other carmakers revealed on-road nitrogen oxide (NOx) emissions as high as 15 times the regulatory limits, as well as the use of devices to mask real vehicle emissions.
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