October 31, 2013 / 12:51 PM / in 5 years

Berlin says bank resolution mechanism also for non-euro EU

BERLIN (Reuters) - Europe’s resolution mechanism for failing banks should be open to non-euro members of the European Union (EU), Germany’s Finance Ministry told Reuters in a statement on Thursday.

“It is important for the German government that solutions are found not only to formally allow the participation of such member states, but also to do so at fair, comparable conditions,” the ministry said.

Germany has said it wants to reach a common position with its EU partners on a resolution mechanism to wind down failing banks by the end of this year and is working constructively to that end.

Reporting by Gernot Heller; Writing by Sarah Marsh

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