Brussels, 20/12/2013 (Agence Europe) - On Friday 20 December, the European Council called on the legislators to adopt the single banking resolution mechanism before the end of the current legislative period. The European Parliament and the finance ministers have all agreed on a common position which will be used as the basis for the trialogue to be carried out under the Greek Presidency in the first half of 2014. Whereas the Parliament strongly criticised the position adopted by the Council, which provides for a part of the agreement coming under the inter-governmental procedure, French President François Hollande pledged the president of the EP, Martin Schulz, their “common interest”. On the single resolution fund attached to this mechanism, President of the Italian Council,Enrico Letta said that a financial capability in the region of €55 million is “effectively not enough”, but that it is all about “prevention” and obliging the banking system “to recapitalise in time”. The Twenty-Eight also welcomed the agreement on the directives on the deposit guarantee system (DGS) and the common rules for bank recovery and resolution (BRRD). (EL/transl.fl)