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Athens Macedonian News Agency: News in English, 14-03-20
CONTENTS
[01] FinMin Stournaras: Agreement on banks' Single Resolution Mechanism
achieved
[01] FinMin Stournaras: Agreement on banks' Single Resolution Mechanism
achieved
ANA/MPA---The Greek EU presidency achieved an agreement in principle
with the representatives of the European Parliament on the banks' Single
Resolution Mechanism, according to Finance Minister Yannis Stournaras.
Stournaras said he is satisfied with the agreement in this very important
pylon of the banks' unification and called on all EU members-states to
support it. "I really hope that it will open the way to get European
Parliament and the Council's approval within the timetable we have set,
taking under consideration the upcoming Europarliament elections,"
he noted.
The creation of a single resolution board with major responsibilities
in bank resolution cases as well as the creation of a Single Resolution
Fund becomes possible after today's agreement. The approval of the
agreed context by the members-states will allow the completion of the
intergovernmental agreement for the operation of the Fund.
The agreed text on the Single Resolution Mechanism must be approved by
the permanent representatives of EU members-states in order to be ratified
at the last session of the standing Europarliament in midst April.
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