Series Title | EurActiv |
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Series Details | 08.10.13 |
Publication Date | 08/10/2013 |
Content Type | News |
According to a legal opinion from the EU Council of Ministers dated 7 October 2013, a proposed agency with sweeping powers to close failing banks in the European Union would violate the bloc's founding treaties and must have its authority narrowed or shared with a core EU institution. Michel Barnier, European Commissioner for Internal Market, has said in an interview that he could imagine the bloc's permanent rescue fund (ESM) as the agency for resolving bankrupt lenders. It would be part of a banking union scheme. |
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Source Link | http://www.euractiv.com/euro-finance/legal-services-call-rethink-bank-news-530923 |
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Subject Categories | Business and Industry |
Countries / Regions | Europe |
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