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Ministers failed to reach agreement despite 20 hours of talks in Luxembourg (Photo: The Council of the European Union)

Ministers crawl toward bank resolution deal

EU finance ministers will reconvene on Wednesday (26 June) in a last-ditch attempt to agree on common rules to wind down ailing banks.

Ministers failed to reach a deal despite almost 20 hours of talks in Luxembourg that ran from Friday into Saturday morning.

A common position is required before ministers can open negotiations with the European Parliament, which agreed its own stance on the new regime in May.

The bank resolution and recovery directive, tabled by the European...

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Author Bio

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.

Ministers failed to reach agreement despite 20 hours of talks in Luxembourg (Photo: The Council of the European Union)

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Author Bio

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.

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