European banking resolution non-mechanism

The Financial Times and Zero Hedge had a pretty funny chart today describing the new mechanism to ‘resolve’ a failing bank, agreed yesterday by European ministers:

European Resolution Mechanism

Zero Hedge calls this the “MinotEur Labyrinth”. As they say, good luck to them.

PS: I might talk about it in more details a later, when I have more time…

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  1. EU banking dis-union | Spontaneous Finance - 22 December, 2014

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