Reading between the lines of European banking statements

Daniele Nouy heads a team of 800 European regulators supervising banks (photo: dpa)
Daniele Nouy heads a team of 800 European regulators supervising banks (photo: dpa)

Statements emerging from the European authorities about a new approach in allowing banks in difficulties to fail have hit the headlines. But these may be coded messages which are more about claims to power than how matters will operate in the future.

<i>The European authorities are sending out contradictory messages. The European Central Bank claims everything will be done to bail out troubled governments, while the head of the newly-created Single Supervisory Mechanism has announced that sovereign debts are no longer considered risk-free, and that some banks are bound to fail and will be allowed to fail. The likely victims may be banks with large quantities of bad government b...

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