The European Commission has published its long awaited proposal for a Directive establishing a framework for the recovery and resolution of banks and investment firms in the EU. The proposed Directive delivers on the EU's commitments to the G20 to introduce legislative reform and can also be seen as a first step in the process of achieving Banking Union in the EU, as announced by Commission President Barroso recently.
In this alert we explore some of the key points in the proposal.
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