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The Single European Mechanism (SRM) will be launched over the next three months, with the aim of rescuing or winding up stricken banks with minimal recourse to taxpayers’ money.
The French Commissioner for Internal Market and Services, Michel Barnier, published a book titled Se reposer ou être libre (to rest or to be free) on 17 April. He spoke with EurActiv about reforming the European banking system.
By reducing their debt, European countries, will return to economic growth. But creating redemption funds, and eurobligations, raises the spectre of fiscal union. EurActiv France reports.
Euro zone governments edged closer on Monday (10 March) towards a deal on how to wind down failing banks. More negotiations will take place on Tuesday to address demands of the European Parliament.
Barbara Lochbihler, Foreign affairs and human rights spokesperson
Maroš Šefčovič, Vice-President