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The new European Banking Liquidation Fund, another mechanism for socializing bank losses

Sergi Cutillas, Javier Soraluce and Carlos Sánchez-Mato.

The Ecofin (European Council for Economic and Financial Business) has agreed to create the fund for liquidating banks in Europe or, in other words, to insure depositors’ money, which will be called Single Resolution Mechanism (SRM) . In this new pact there is, as there has been lately, a clear winner. Germany has assured itself that the European Commission will not have the last word in order to...


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