BREAKING NEWS

ECB says investors must share burden of any bank rescue

Now Reading:

ECB says investors must share burden of any bank rescue

Text size Aa Aa

FRANKFURT (Reuters) – Private investors must share the burden of any bank rescue, a senior European Central Bank supervisor said on Tuesday, calling for subjecting the sector to “market discipline”. “A substantial private sector burden-sharing is a non-negotiable prerequisite prior to public funds being touched,” Pentti Hakkarainen, a member of the supervisory board of the ECB, told a conference. “In regulating and supervising financial institutions, we should still make space for market forces and market discipline to act,” he added.

(Reporting By Francesco Canepa)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.