Euro zone bank fund would need ESM backing: Irish finance minister

A proposed European fund to wind down banks is not enough on its own and would need backing from the European Stability Mechanism bailout fund, Ireland’s finance minister said on Monday. “The conversation, rather than the paperwork, would suggest a fund of maybe 55 billion euros, somewhere in that neighborhood,” Michael Noonan told Reuters. Access to the ESM would be the backstop that would be appropriate.”

    

Leave a Reply

Your email address will not be published.