MEPs issue threat over bank resolution plan

The European Parliament is prepared to pull the plug on plans for a common rule book to wind up failed banks, deputies said on Thursday (16 December).

Ministers reached agreement in December on a new authority to deal with bank resolution cases, together with a common fund to cover the costs.

However, in a bid to pacify German concerns that a mutualised fund, which would be built up to €55 billion over ten years, could lead to German taxpayers underwriting the bulk of the costs, ...