The European Parliament is prepared to pull the plug on plans for a common rule book to wind up failed banks, deputies said on Thursday (16 December).
Ministers reached agreement in December on a new authority to deal with bank resolution cases, together with a common fund to cover the costs.
However, in a bid to pacify German concerns that a mutualised fund, which would be built up to €55 billion over ten years, could lead to German taxpayers underwriting the bulk of the costs, ...
Back our independent journalism by becoming a supporting member
Already a member? Login hereBenjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.
Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.