Lautenschlaeger Says EU Needs Interim Bank Resolution Network

Bundesbank Vice President Sabine Lautenschlaeger said the European Union’s bank-resolution regime may take the form of a network of national authorities before changes in the region’s governing treaty can be made.

“If we do not get a fast-track change to the EU primary law, then we need a network of national restructuring and resolution authorities with a clear agreement, with no room for interpretation about burden-sharing,” Lautenschlaeger said in an interview with Bloomberg Television in Frankfurt yesterday. “It’s worthwhile to create this very clear legal basis by changing EU primary law.”