EU should press ahead on bank resolution, ECB man says

The EU should move ahead with rules to wind up failing banks and set up a bank-funded resolution fund, European Central Bank (ECB) vice-president Vitor Constancio has said.

In a hearing with MEPs in the Parliament's economic affairs committee on 24 April 2013, Constancio noted that a single resolution mechanism to wind up banks is "a necessary complement" to having a single banking supervisor.

ESO: Background Information: Spain joins French calls to rewrite ECB mandate http://www.europeansources.info/record/spain-joins-french-calls-to-rewrite-ecb-mandate/

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