Dijsselbloem Says EU Needs Long-Term Common Deposit Backstop
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Common deposit guarantees will be necessary to complete the European banking union project, Dutch Finance Minister Jeroen Dijsselbloem said.
“That will be the final building block of the banking union, a necessary block,” Dijsselbloem, who heads the group of euro-area finance ministers, said at a conference in Brussels today. Precursors include new rules on bank resolution, common standards for national deposit guarantees and a European bank resolution scheme that is due to be proposed in June, he said.