The European Parliament has published a press release relating to the single resolution fund (SRF). The press release states that lead members of the Parliament (MEPs) negotiating the single resolution mechanism (SRM) will participate in an intergovernmental meeting, on 9 January 2014, dealing with details of the SRF. MEPs will highlight the dangers of the Council of the EU’s position and explain their alternative models.
An accompanying letter also highlights that euro area Member States decided to establish amongst themselves an intergovernmental agreement specifying the channelling of funds to the SRF and a gradual mutualisation of these funds. Negotiations on the intergovernmental agreement are due to follow.
View MEPs’ statement on the work on the single resolution mechanism for banks, 9 January 2014
View Letter from the Council on the SRF, 20 December 2013