Brussels, 10/07/2013 (Agence Europe) - On Wednesday 10 July, EU Internal Market Commissioner Michel Barnier unveiled what he said was a “unanimous” proposal from the European commissioners for a common bank resolution system that will apply to the 6,000 banks in the eurozone by 2015 and will be the second stage of banking union (after the common bank supervision mechanism, see EUROPE 10884).
With this proposal, the Commission has given itself a key role, as the trigger for the bank...