Brussels, 09/12/2014 (Agence Europe) - The European Stability Mechanism (ESM)'s direct bank recapitalisation scheme is now operational, but is unlikely to be used.
This additional power for the eurozone's permanent bailout fund is now formally operational, explained the ESM executive director, Klaus Regling, on Monday 8 December. In June, the member states dropped their reservations about how direct bank recapitalisation would operate, thus paving the way for ratification by the various...