Draghi Says Bank Resolution Plan May Be Too Cumbersome
This article is for subscribers only.
European Central Bank President Mario Draghi criticized plans by euro-area governments on how to deal with failing banks, saying current proposals might be too complicated to work properly.
“I am concerned that decision-making may become overly complex and financing arrangements may not be adequate,” Draghi said during a hearing at the European Parliament in Brussels yesterday. “We should not create a Single Resolution Mechanism that is single in name only.”