Legislation for a eurozone banking union will restore economic confidence and break the link between banks and public debt, Mario Draghi, President of the Frankfurt-based European Central Bank (ECB), has told MEPs.
Speaking at his quarterly hearing with the parliament's economic and monetary affairs committee on Monday (17 December), Draghi said that "combined with possible direct recapitalisation of banks by the European Stability Mechanism (ESM) and an envisaged single resolution mech...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.