Date: 5th October 2016
Author:
Type: In the news
On September 24, Klaus Regling, Managing Director of the European Stability Mechanism, recognized the current legal setup of this mechanism would not allow it to become a “backstop” lender for the EU Single Resolution Fund, which will be set up in 2014 and will directly recapitalize struggling banks. However, answering Economic and Monetary Affairs Committee MEPs questions, Regling also admitted that there is still room to consider other possible legal interpretations which could justify this role for the ESM.
Read the European Parliament Press Release here and watch 'The News in Brief' Europarltv video here.