Brussels, 27/06/2013 (Agence Europe) - On Thursday 27 June, the Ecofin Council reached agreement in principle on the draft directive on national bank resolution schemes. The rules, known to industry in advance, will provide for an orderly restructuring of a failing bank. As a last resort, the European Stability Mechanism (ESM) will be able to intervene to provide capital to banks in the eurozone bank supervision system (see EUROPE 10873 and 10875).
Irish Finance Minister Michael Noonan said...