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.
Was this article useful? If so we are delighted! It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans. Discover our membership offers and their exclusive benefits and become a member of our community now!
Russia’s attack on Ukraine: Kateryna Mishchenko in conversation with Sergey Lebedev
Two weeks after the launch of Russia’s massive attack on Ukraine, Ukrainian writer Kateryna Mishchenko – who had to flee Kyiv – shared her thoughts with our readers and with Sergey Lebedev, a veteran Putin opponent.Go to the event >