Statement by Minister Yannis Stournaras on the Single Resolution Mechanism

EU News 124/2014

Council of the EU
Brussels, 20 March 2014
7974/14
(OR. en)
PRESSE 167

The Hellenic Presidency this morning reached a provisional agreement with representatives of the European Parliament on the Single Resolution Mechanism regulation. This was done in conjunction with the valuable input and contributions by the Chair of the IGC at Ministerial level, Jeroen Dijsselbloem, on the aspects of the Single Resolution Fund, which was intrinsic in reaching the overall agreement.

The agreed text will now be submitted to the Member States, and I hope that they will be able to support it.

The regulation will enable the establishment of a single resolution board with broad powers in cases of bank resolution, as well as a single resolution fund. Approval of the text will enable us to also conclude an intergovernmental agreement on the functioning of the fund.

Source and additional information:
http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/141672.pdf

File Photo: 2014/03/10 Mr Ioannis STOURNARAS, Greek Minister for Finance. Credit "The Council of the European Union" URL

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