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The EU’s 28 member states are examining options for the liquidation of ailing banks within the framework of the banking union, reports Handelsblatt.

Under the terms of the original proposal, the European Commission was to take charge of this mission. Now the European Commissioner for Internal Market and Services, Michel Barnier, has mooted that the European Stability Mechanism (ESM) could play this role, once it becomes an official institution of the EU. In the meantime, he proposes that the Commission should take on the task.

Berlin, which has welcomed this compromise proposal, is hoping to find a solution between now and the end of this year, points out the daily.