Press Release: Economic and Financial Affairs Council, Brussels, 10 December 2013 / Ministers edge toward bank resolution deal

Main results of the Council:

The Council updated its position on bank recovery and resolution and deposit guarantee schemes in the light of on-going negotiations with the European Parliament.

It adopted a decision deeming action taken by Poland to correct its excessive deficit to be insufficient. It issued a new recommendation, extending the deadline for correction of Poland’s deficit by one year, to 2015.

The Council reviewed excessive deficit procedures for Spain, France, Malta, the Netherlands and Slovenia, adopting opinions on their economic partnership programmes.

• Primary Source

European Commission: RAPID: Memo, MEMO/13/1101: Preparation of Economic and Finance Ministers Council, Brussels, 10 December http://europa.eu/rapid/press-release_MEMO-13-1101_en.pdf

ESO: Background information: Commissioner Šemeta welcomes EU agreement to sign WHO Protocol against the illicit trade in tobacco http://www.europeansources.info/record/memo-commissioner-semeta-welcomes-eu-agreement-to-sign-who-protocol-against-the-illicit-trade-in-tobacco/

EurActiv, 10.12.13: France, Germany inch towards deal on banking union http://www.euractiv.com/euro-finance/france-germany-inch-deal-banking-news-532234

EurActiv, 11.12.13: EU finance ministers close to agree plan on failing banks http://www.euractiv.com/euro-finance/eu-finance-ministers-sketches-pl-news-532262

EUObserver, 11.12.13: Ministers edge toward bank resolution deal after marathon talks http://euobserver.com/news/122413

Deutsche Welle, 10.12.13: Marathon EU talks over bail-out fund for banks http://dw.de/p/1AWlx

European Commission: RAPID: Speech, SPEECH/13/1051: Statement at Ecofin Council http://europa.eu/rapid/press-release_SPEECH-13-1051_en.pdf

European Commission: RAPID: Memo, MEMO/13/1133: Commissioner Michel Barnier remarks following the ECOFIN Council meeting http://europa.eu/rapid/press-release_MEMO-13-1133_en.pdf

BBC News, 11.12.13: EU argues over joint rescue plan for eurozone banks http://www.bbc.co.uk/news/world-europe-25330432

Spiegel Online International, 11.12.13: EU Wrangling: Berlin Plays It Safe on Banking Union http://www.spiegel.de/international/business/berlin-plays-it-safe-on-planned-eu-banking-union-a-938431.html

Euronews, 11.12.13: Eurozone banking union close, but still stuck on details http://www.euronews.com/2013/12/11/eurozone-banking-union-close-but-still-stuck-on-details/

ESO: Background information: Spain, France say banking union possible by year's end http://www.europeansources.info/record/spain-france-say-banking-union-possible-by-years-end/

BBC News, 12.12.13: 'Big step' reached in rescue plan for eurozone banks http://www.bbc.co.uk/news/business-25348977

Euro|Topics, 12.12.13: Final spurt towards banking union http://www.eurotopics.net/en/home/presseschau/aeltere/NEWSLETTER-2013-12-12-Final-spurt-towards-banking-union

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