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Remarks by Paschal Donohoe following the Eurogroup meeting of 8 November 2023

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

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

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· Paschal Donohoe Wiki · Eurogroup WikiRemarks by Paschal Donohoe following the Eurogroup meeting of 8 November 2023

ContextPress remarks in Brussels after a meeting of euro area finance ministers, thirty years after the Maastricht Treaty; the Eurogroup coordinates economic policies for the single currency.

Why it mattersMinisters push for the ESM backstop to the resolution fund.

Problems raised
  1. The ESM backstop to the resolution fund is not in place.
  2. Crisis management reform is incomplete.
  3. The Banking Union is unfinished.
Solutions proposed
  1. Ensure the ESM backstop to the Single Resolution Fund.
  2. Reach agreement on crisis management reform.
  3. Advance the Banking Union.
Read full speech on consilium.europa.eu ↗

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