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Thumbs up for Banking Union: EP adopts key texts

The European Parliament, in today’s plenary session, adopted 3 key texts that complete the legislative work underpinning the Banking Union (Single Resolution Mechanism, Bank Recovery and Resolution Directive, and Deposit Guarantee Schemes Directive).

Addressing the EP plenary, representing the Council of the EU, Deputy Prime Minister and Foreign Minister Evangelos Venizelos said that “the Banking Union has been created in under two years. It has been a Herculean task, but one that will enable Europe to emerge stronger from the crisis. It is a major step towards the completion of a true Economic and Monetary Union based on greater integration and solidarity in the euro area. And the Single Rule Book, the foundation on which the Banking Union has been built, will deliver greater stability to the whole of the EU and its internal market”.

Read below DPM & FM Venizelos’ statements: