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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