On 4 February 2014, the EU Parliament published a press release on the latest negotiations over bank resolution.
As previously reported (see this blog post for more detail), negotiations over resolution funding seemed largely to have reached an impasse. However, yesterday’s tone seems somewhat more conciliatory in nature. The Parliament remained adamant that it would not back a “bad deal” but Michel Barnier, Commissioner for financial services, recognised that it had “very valid concerns”. For their part, Parliamentarians expressed their “empathy with national governments which want a say” and noted that a “realistic compromise” which involved a “very limited role for an intergovernmental approach” was still possible.
Perhaps the proximity of May’s elections has served up a dose of reality all round…Contact Us