The banking union is approaching: the EU countries, in fact, have reached an agreement on the resolution fund for banking crises. According to the agreement reached between the European Parliament and the EU Council, the fund will be set up with bank leverage over eight years (and not ten, as initially envisaged), with 70% of the total resources to be paid in the first three years.
When fully operational, the single resolution fund will have resources for 55 billion which will have to be paid by the states. "Mutualization - says Elisa Ferreira, rapporteur in the European Parliament's Economic Problems Committee - will be very fast, and this responds to one of our requests".
Furthermore, during the night in Brussels, an agreement was reached for the creation of a new agency to shut down banks too fragile to survive. The agreement gives the ECB a primary role in decisions on the closure of a bank, making the task more difficult for the new resolution agency and limiting the scope of action of the ministers of the individual countries.
