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Statement by the Eurogroup President, Paschal Donohoe, on the publication of the Commission proposal for a reform of the bank crisis management and deposit insurance (CMDI) framework

· 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 WikiStatement by the Eurogroup President, Paschal Donohoe, on the publication of the Commission proposal for a reform of the bank crisis management and deposit insurance (CMDI) framework

ContextWritten statement on the Commission's proposal to reform EU bank crisis management and deposit insurance; the Eurogroup coordinates euro area policies and works to complete the banking union.

Why it mattersMinisters welcome draft rules meant to handle failing lenders without taxpayer money.

Problems raised
  1. The Banking Union is incomplete.
  2. Crisis management for banks is weak.
  3. Deposit guarantee schemes remain national.
Solutions proposed
  1. Strengthen the common crisis management framework.
  2. Improve national deposit guarantees.
  3. Build on the Eurogroup's agreement.
Read full speech on consilium.europa.eu ↗

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