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Remarks by Paschal Donohoe following the Eurogroup meeting of 13 May 2024

· Paschal Donohoe, President of the Eurogroup (Euro area (EU))

Summary written by Dark Majestic in its own words · topics: banking regulation and supervision, growth, investment and productivity

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· Paschal Donohoe Wiki · Eurogroup WikiRemarks by Paschal Donohoe following the Eurogroup meeting of 13 May 2024

ContextPress remarks in Brussels during a meeting of euro area finance ministers; the Eurogroup coordinates economic policies for the single currency and works on capital markets union.

Why it mattersMinisters advance bank crisis management and the backstop to the resolution fund.

Problems raised
  1. The bank crisis management framework is incomplete.
  2. The Single Resolution Fund needs backstopping.
  3. Private R&D investment is weak.
Solutions proposed
  1. Advance the crisis management file.
  2. Link the Single Resolution Fund with the ESM.
  3. Progress on capital markets union.
Read full speech on consilium.europa.eu ↗

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