This article is brought to you in association with the European Commission. The European Commission has approved, under EU State aid rules, an amendment to the support measures granted by Poland in the context of the resolution of the Polish Getin Noble Bank S.A. The Commission approved the initial support measures in October 2022 (SA.100687). According […]Commission approves amendment to State aid measures supporting resolution of Polish Getin Noble Bank
November 27, 2023 by 1 Comment
This article is brought to you in association with the European Commission. The European Commission has approved, under EU State aid rules, an amendment to the support measures granted by Poland in the context of the resolution of the Polish Getin Noble Bank S.A. The Commission approved the initial support measures in October 2022 (SA.100687). According […]Preparation ladder of resolution for younger generations
January 3, 2022 by 1 Comment
This article was exclusively written for The European Sting by Ms. Sneha Chakraborty is a Final year Medical student at Vydehi Institute of Medical Sciences and Research Centre, Bengaluru, Karnataka, India. She is affiliated with the International Federation of Medical Students Associations (IFMSA), cordial partner of The Sting. The opinions expressed in this piece belong strictly to […]The Parliament paves the way for the creation of the European Banking Union
October 18, 2013 by 2 Comments
Today, 18 October, is the last day for MEPs to table their amendments with the Parliament’s Economic and Monetary Committee, in the process of formulating the legislature’s proposal for an EU mechanism to sort out troubled banks. This is the much debated bank resolution and recovery mechanism and fund. The Committee vote is planned for […]The banks want now free capital from taxpayers
September 30, 2013 by 1 Comment
Benoît Cœuré, a Member of the Executive Board of the European Central Bank, delivered a speech today on “The implications of bail-in rules for bank activity and stability”. This was the opening speech at conference on “Financing the recovery after the crisis – the roles of bank profitability, stability and regulation”, staged by Milan’s Bocconi […]Bank resolutions and recapitalisations by the ESM may end up politically swayed
September 25, 2013 by Leave a Comment
Klaus Regling, the Managing Director of the European Stability Mechanism (ESM), speaking yesterday at the European Parliament, when pressed by legislators, accepted that the wealthy ESM under conditions could function as a backstop and finance jointly with other sources, euro area bank resolutions and recapitalisations. Regling did concede that he was “open to considering other […]Germany: A grand coalition may trouble employers and bankers
September 25, 2013 by Leave a Comment
The very likely formation of a grand coalition government in Germany, led by the CDU-CSU Christian democrats, under Chancellor Angela Merkel and comprising the SPD socialists, will not be without tangible results in at least two crucial fronts. The wages of Germany’s hard working millions and the long overdue rearrangement of Eurozone’s banking system, are […]Germany may prove right rejecting Commission’s bank resolution scheme
September 17, 2013 by Leave a Comment
Commissioner Michel Barnier, responsible for financial services, had a rough time yesterday at the Economic and Monetary Affairs Committee (ECON) of the European Parliament, when he told the legislators that the Commission will press ahead with its proposal about the creation under its own roof of the Single Resolution Mechanism (SRM) for Eurozone’s failing banks. […]ECB is about to lend trillions to banks
July 11, 2013 by Leave a Comment
The institutionalisation of the Single Resolution Mechanism to deal with failing banks, a new tool to complement ECB’s Single Supervisory Mechanism (SSM), two cornerstones in building the European Banking Union, cannot be accomplished correctly, if member states were allowed directly or indirectly to support with public money their failing or about to fail banks, in […]EU Directive makes haircut on uncovered deposits a standard in bank bail-ins
March 31, 2013 by Leave a Comment
What happened in Cyprus was neither improvised nor exceptional. Peoples’ bank deposits above the secured benchmark of €100.000 were confiscated according to a very important proposal for a Directive which was forwarded from the Commission to the European Council and the European Parliament last June under the name of “Proposal for a DIRECTIVE OF THE […]
