ESM BOSS SAYS NO AGREEMENT IN EUROPE ON BANK RECAPITALISATION
The head of the European Stability Mechanism (ESM) says he does not see a unanimous view in Europe at the moment to allow for retroactive bank recapitalisation.
Klaus Regling says the issue does not arise anyway until at least November of this year when a new ‘Single Supervisory Mechanism’ is put in place.
The ESM Managing Director was speaking in Dublin this afternoon following a meeting with Finance Minister, Michael Noonan.
“But we also know that the activation is not easy” he said.
“It requires a unanimous decision and – as I have said before – at the moment I don’t see that unanimous view”.
“But we will see later this year” he added.