On Wednesday 28 January, Dutchman Frank Elderson, Vice-Chair of the Single Supervisory Mechanism (SSM) and candidate for a new three-year term, called for European banks to be better able to absorb “geopolitical shocks”, making reference to Russia’s military aggression against Ukraine in 2022, which triggered an inflationary shock in the euro area.
In response to Anouk Van Brug (Renew Europe, Dutch), Mr Elderson indicated that the SSM Council was in the process of carrying out a...