Heterodox
The EU’s hugely complex banking resolution framework is generally supposed to have one key goal – to ensure that failing banks are ‘resolved’ without recourse to public bail-outs, thereby breaking the link between private banks and sovereigns… The reality, we have seen today, is quite different – and, it seems, legal! The EU can just about argue that technically, the rules have not been broken - but overall, the appearance is of a policy in logical disarray once again.After...
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