Dijsselbloem Backs Barnier on Bank Resolution, Notes Conflicts

The European Commission’s proposal for a single European resolution authority for failing banks is “defensible,” though potential conflicts of interest must be prevented, Dutch Finance Minister Jeroen Dijsselbloem said.

The European Union plan would bring together national regulators in a resolution board that would draw up plans for intervening at struggling banks. The final decision to initiate the measures would rest with the European Commission, the EU’s regulatory arm.