Press Release: Statement by Minister Yannis Stournaras on the Single Resolution Mechanism

On 20 march 2014, the Hellenic Presidency reached a provisional agreement with representatives of the European Parliament on the Single Resolution Mechanism regulation. This was done in conjunction with the valuable input and contributions by the Chair of the IGC at Ministerial level, Jeroen Dijsselbloem, on the aspects of the Single Resolution Fund, which was intrinsic in reaching the overall agreement.

The regulation will enable the establishment of a single resolution board with broad powers in cases of bank resolution, as well as a single resolution fund. Approval of the text will enable an intergovernmental agreement on the functioning of the fund.

European Commission: RAPID: STATEMENT/14/77: European Parliament and Council back Commission's proposal for a Single Resolution Mechanism: a major step towards completing the banking union http://europa.eu/rapid/press-release_STATEMENT-14-77_en.pdf

https://ec.europa.eu/info/business-economy-euro/banking-and-finance/banking-union_en https://ec.europa.eu/info/business-economy-euro/banking-and-finance/banking-union_en

ESO: Background information: A comprehensive EU response to the financial crisis: substantial progress towards a strong financial framework for Europe and a banking union for the eurozone http://www.europeansources.info/record/memo-a-comprehensive-eu-response-to-the-financial-crisis-substantial-progress-towards-a-strong-financial-framework-for-europe-and-a-banking-union-for-the-eurozone-2/

ESO: Background information: Commission proposes Single Resolution Mechanism for the Banking Union http://www.europeansources.info/record/press-release-commission-proposes-single-resolution-mechanism-for-the-banking-union/

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