ECB’s Lagarde Tells EU Leaders That Banking Sector Is Strong (2)

European Central Bank President Christine Lagarde told European Union leaders that the euro-area banking sector is strong despite the continued market turmoil, according to people familiar with the matter.

Lagarde spoke on Friday to a gathering of EU leaders in Brussels, where they were discussing economic and monetary issues. She told them that the sector has held up because of the strong regulatory regime, and now it’s time to complete plans for a banking union.

She also said there is no trade off between price stability and financial stability, saying the central bank remains determined to bring inflation back to ...