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ECOFIN: “chance to take decisive step towards banking union”, argues European Commission

December 10, 2013 - Financial & Competition

Jennifer Baker is joined by Pia Ahrenkilde Hansen, spokeswoman of the European Commission, to discuss the most important issues on the agenda of Tuesday’s ECOFIN Council.

The Council meeting of the finance ministers will focus on issues regarding the deepening of the Economic and Monetary Union. Among others finance ministers will discuss the single resolution mechanism for failing banks and the deposit guarantee scheme. Pia Ahrenkilde Hilde, spokeswoman of the European Commission, sees the upcoming ECOFIN as “a change and a possibility for Member States to take a real decisive step towards banking union”. Those steps should bring the EU closer to the idea “that banks have to pay for their own mistakes” and not the tax payers, argues Ahrenkilde Hansen.

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