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07 March 2014

Graham Bishop's Blog: SRM - Final act (for 2014 at least) probably at ECOFIN on Monday


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The European Parliament has thrown down the gauntlet to the Council by tabling the resolution that it intends to debate in the final plenary session before dissolution.


The EP challenges in particular the need for an Intergovernmental Agreement on the Resolution Fund. Ministers start talking about that at 19.00 on Monday. Could be a long night.

BUT shareholders in the EU’s biggest banks – first in line for a bail-in – clearly do not expect any major hit – judged by the continuing bull market in bank shares. The Parliament should stick to its guns as any need for a major resolution in the near future will almost certainly fall under existing state aid rules - as I have said for months!.

 

 

Rolling Blog

Graham Bishop - Consultant on EU Integration - Political, Financial, Economic, Budgetary



© Graham Bishop


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