Bloomberg News

Borg Says ‘Laid Foundations’ for Summit Deal on ‘Banking Side’

October 22, 2011

Oct. 22 (Bloomberg) -- Swedish Finance Minister Anders Borg said European finance chiefs have “laid foundations” for and agreement by government leaders on shielding banks from the fallout from the sovereign debt crisis.

“There remains some work to be done on the EFSF on the eurogroup side, but we have laid down foundations for an agreement on the banking side,” Borg told reporters today in Brussels after a meeting of the 27 European Union finance ministers.

To contact the reporter on this story: Anabela Reis in Brussels at

To contact the editor responsible for this story: Jones Hayden at

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