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European Stability Mechanism

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  1. Euro Bailout Fund
  2. Euro Breakup
  3. Bank Nationalization
  4. Mariano Rajoy
  5. Financial Reform
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ECB Constancio: Linking National Resolution Funds Isn't Enough

Europe must create a single resolution mechanism backed by a common pool of money to help wind down struggling banks, European Central Bank Vice President Vitor Constancio said Friday."An approach based solely on coordination between national authorities without a single resolution authority and without a common backstop would clearly not be sufficient," Mr. Constancio said at a hearing in Brussels."It would make the banking union significantly less attractive for non-euro area member states and hence less effective for the EU as a whole," he said.The European Commission, the European Union's executive arm, is due to present its proposal for a European resolution mechanism in June. Michel Barnier, European Commissioner for the internal market, has called for a "common" resolution tool, but it isn't clear whether that would co-exist with or replace national funds.Germany in particular has strongly resisted steps towards a single resolution mechanism, warning that such a move would requi...

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  1. Most EU bank union work can be done without law change: Eurogroup head

    The euro zone's top project to boost economic growth - banking union - will not be delayed for now by a row over whether it needs EU law changed because most of the ...

  2. G20 urges EU to complete banking union fast, Germany digs in heels

    World financial leaders urged the European Union on Friday to quickly complete its banking union to help growth, but Germany stood firm that the next step toward suc...

  3. German court to hear case against ESM, ECB bond-buying in June

    Germany's Constitutional Court said on Friday it would hold a public hearing on a complaint against the euro zone's bailout fund, the European Stability Mechanism (E...

  4. Big depositors in Cypriot banks to lose 8.3 billion euros: document

    Large depositors who kept their money in the two biggest Cypriot banks stand to lose up to 8.3 billion euros through the restructuring of the two institutions, a Eur...

  5. Germany puts brakes on EU bank union with treaty call

    Germany said European banking union will require changes to EU law, in a call that could slow completion of the plan designed to underpin the euro currency.Speaking ...

  6. German Finance Minister: ESM to Recap Banks Only After Home Country Pays

    The euro zone's rescue fund should only provide aid for troubled banks after their home states have injected fresh capital, German finance minister Wolgang Schaeuble...

  7. EU Economics Chief Calls for Faster Banking Union

    Rules on how to deal with troubled banks in the euro zone should be accelerated and the currency bloc's banking union should be in place by 2015, the European Commis...

  8. EU Banking Union at Center of Talks with Lew

    Plans to bring Europe's banks under unified supervision and to reform the rules governing the euro were at the core of the talks U.S. Treasury Secretary Jacob Lew he...

  9. IMF Urges Ireland to Retain Austerity Program

    The International Monetary Fund on Wednesday urged Ireland's government to stick to its painful austerity program as it emerges from its international bailout, despi...

  10. Ireland to Refinance Banking Debts Through ESM

    The Irish finance ministry insisted Monday Ireland is still on course to refinance a large part of the huge sums it sunk into its broken lenders with the euro-zone a...

  11. Cyprus to shape future euro bank rescues: Eurogroup head

    A rescue program agreed for Cyprus will serve as a model for dealing with future euro zone banking crises and other countries will have to restructure their banking ...

  12. Cyprus: The New Face of Bank Bailouts?

    A rescue programme agreed for Cyprus on Monday represents a new template for resolving euro zone banking problems and other countries may have to restructure their b...

  1. Spain banks may need to raise money to meet provisions: Rajoy

    Spain's Prime Minister Mariano Rajoy on Wednesday said the country's banks may have to raise capital on the financial markets to meet higher provisioning requirement...

  2. Ireland Still Hoping to Refinance Bank Debts Through ESM

    Ireland's government is still hoping the euro area authorities will allow it to refinance huge debts it ran up during the country's deep financial crisis to save its...

  3. Italy banks do not need EU aid: econ minister

    Italian banks do not need a European Union bailout to boost their capital base, Economy Minister Fabrizio Saccomanni said on Tuesday.Saccomanni was asked by reporter...

  4. EU Commission or ESM could wind down ailing banks: report

    People involved in negotiating a European banking union are discussing entrusting the European Commission or the euro zone's bailout fund with winding down ailing ba...

  5. Euro-Zone Banks Assets to Undergo Evaluation

    Banks that will be supervised by the upcoming euro-zone supervisory mechanism headed by the European Central Bank will undergo an asset-quality review beforehand, a ...

  6. Moody's: Italy May Still Eventually Need Bailout

    Rating agency Moody's believes Italy may still eventually need to seek a bailout despite forming a new government and avoiding immediate crisis."We cannot yet rule o...

  7. German government confident top court will uphold euro rescue ruling

    The German government is confident the Constitutional Court will confirm an earlier ruling okaying the euro zone rescue mechanism after a June hearing to consider th...

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