A eurozone banking union will need a common resolution fund, European Central Bank (ECB) chief Mario Draghi said on Monday (18 February) in the European Parliament.
EU lawmakers are currently finalising rules for a single supervisory mechanism (SSM) co-ordinated by the ECB. The European Commission is expected to table legislation for a resolution mechanism to wind up ailing banks within the coming months.
Speaking with MEPs on the monetary affairs committee, Draghi said that the r...
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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.