Merkel Ally Says Germany Warming to Dijsselbloem Bank-Union Plan
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Germany could live with Dutch Finance Minister Jeroen Dijsselbloem’s proposal to separate deliberations on a rescue fund from other aspects of a European Union bank-failure plan, said the parliamentary finance spokesman of Chancellor Angela Merkel’s party.
Dijsselbloem said Dec. 4 that the Netherlands supports a solution “whereby you split up” a proposal by Michel Barnier, the EU’s financial services chief, putting a decision on a contentious cleanup fund on a separate track. Barnier’s plan includes a central resolution authority backed by a single fund, filled from levies on banks, that would cover the cost of restructuring or shutting down lenders.