Europe’s Ungainly Banking Revolution
Late last year, eurozone finance ministers reached a compromise on the basic elements of the Single Resolution Mechanism – that is, how to deal with banks in difficulty. The deal looks ugly, but it also appears likely to work.
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BRUSSELS – Late last year, eurozone finance ministers reached a compromise on the basic elements of the Single Resolution Mechanism (SRM) – that is, how to deal with banks in difficulty. It looks ugly, but it also appears likely to work.