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Extracts from the press conference by Michel Barnier on the proposal for a Single Resolution Mechanism for the Banking Union

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On 10 July 2013, Michel Barnier, Member of the EC in charge of Internal Market and Services, presented in Brussels the proposal for a Single Resolution Mechanism for the Banking Union, just adopted by the European Commission. The European Commission proposed a Single Resolution Mechanism (SRM) for the Banking Union. The mechanism would complement the Single Supervisory Mechanism (SSM) which, once operational in late 2014, will see the European Central Bank (ECB) directly supervise banks in the euro area and in other Member States which decide to join the Banking Union.
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Type: EbS   Reference: I-080405   Date: 11/07/2013   Duration: 03:27
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