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MAY 01, 2013 - Boston Herald

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Italy's new PM pushes for European banking union

PARIS — Italy's new premier pressed on Wednesday for the creation of a full-fledged European banking union and said he wants results before the EU summit next month.Enrico Letta said at a news conference Wednesday with French President Francois Hollande that "we mustn't waste time on this.""We have decided it. We have to do it," he said, adding it's a way to create jobs by helping companies get lower interest rates.Letta was in Paris a day after taking office. He visited Germany on Tuesday and heads to Brussels on Thursday.

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