On Friday 29 June, at a Eurozone summit open to all European leaders except that of the United Kingdom, the Nineteen are expected to decide to make the European Stability Mechanism (ESM) into the common backstop of the Single Resolution Fund (SRF), the financial arm of Banking Union.
The creation of the backstop is one of the most important points of the completion of Banking Union and Mario Centeno, the President of the Eurogroup, reiterated the importance of this role being given to the...