The President of the Single Resolution Board, the European authority responsible for resolving major failing banks in the euro area, wants a gradual harmonisation of national insolvency regimes for banking groups, without denying the Herculean scale of the task.
“Let’s start small and consider that failing banks need to be safely liquidated”, Elke Koenig told the European Parliament’s Economic and Monetary Affairs Committee (ECON) on Tuesday 3 December in response to Markus Ferber...