Luxembourg, 21/06/2013 (Agence Europe) - From the autumn of 2014 onwards, the European Stability Mechanism (ESM) will be able to provide recapitalisation of big banks, on a case-by-case basis, in the eurozone that are supervised by the ECB. This would only be allowed as a last resort, if all other restructuring measures being set up as part of Banking Union were to fail.
Eurogroup has reached broad agreement on the main way that a direct bank recapitalisation by the ESM would work, explains...