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Austria's Central Bank Head Sees Europe 'Deepening' Banking Union

Claus Raidl, president of the Austrian Central Bank, discusses what investors in Central and Eastern Europe can expect from the European Union's political leadership over the next 12 months.

Claus Raidl, spokesman for Austria 21 and president of the Austrian Central Bank, talks with Lee Pacchia about what investors in Central and Eastern Europe can expect from the European Union's political leadership over the next 12 months. Raidl contends that despite a recent wave of election wins for far right and anti-EU parties across Europe, a majority still support the concept of a unified Europe. With that in mind, he expects incoming policymakers to adopt a higher level "subsidiarity" in their work while avoiding political instability. As a result, Raidl feels that in the next 12 months we will see a "deepening of the banking union" in Europe.

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