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Published on 12 December 2013 at 17:50

On the car: "Banking Union"
"The Bolkesteins of Europe"

In the early hours of December 12, representatives of EU member states, the European Commission and Parliament reached agreement on a directive for the management of failing banks and bank bail-ins. The directive, which will come into force on January 1, 2016, "allows for intervention by national authorities to prevent banks in difficulty from going under," writes Les Echos.[…] Recapitalisation will only concern "solvent banks that need to be recapitalised when weaknesses are identified by stress tests.
This measure will be complemented by the single banking resolution mechanism, which is currently being negotiated by eurozone states.

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