That may infuriate fellow eurozone members who are desperate for Europe to implement banking union rapidly (as they believe was agreed at the June summit), so that weaker banks can be recapitalised.
But some MEPs are concerned about the wisdom of giving a job that will implement banking inside the eurozone to a Brit from outside the eurozone.
Mr Horta-Osorio also said he was planning to move swiftly to implement banking reform that calls for retail banking - to be ring-fenced from the more risky investment banking by 2019.
We've already seen that start to happen, as traditional retailers have online stores, coffee shops and hotels provide Internet access, and banks implement online banking services.
Mr. Caruana also said that he does not expect any delay in implementing new banking rules, despite signals to the contrary from the meeting of the G-20 nations in Toronto last weekend.
For that to happen, he said, the 17 countries using the common currency need to maintain their pace at overhauling the weaker economies, and European Union-level policies, including implementing a banking union, needed to be strengthened.
Eckhard Wurzel, an economist with the O.E.C.D., predicted that if the 17 euro zone countries maintained their pace at overhauling the weaker economies, and continued to strengthen policies at the E.U. level, including implementing a banking union, a real turnaround could be seen as early as 2015.
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Above all, Sudan resents the fact that it has not been rewarded for its recent steps towards modernisation.Even though the country no longer receives World Bank assistance, by implementing the bank's suggestions Sudan has become one of its rare successes in Africa.
