Dominique Laboureix: We don't want taxpayers to be hit if things go wrong somewhere.
Politicians are afraid that "their" banks will pay for failing banks in other countries if there were a European deposit guarantee scheme.But through the Single Resolution Fund, they are already paying into it.
The talk lasts only half an hour, but Dominique Laboureix emphasizes up to three times that'we must not be complacent.' Yes, says the Chair of the European agency that resolves failing banks, it was clear during the banking turmoil earlier this year that confidence in European banks was higher than confidence in U.S. or Swiss institutions-there was no contagion. Yet that is in his eyes is only an encouragement. We have to work hard to make this system even more secure.
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© Single Resolution Board
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