Esm Boss Says No Agreement In Europe On Bank Recapitalisation

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.