Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-377-000"
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"en.20140415.62.2-377-000"2
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"UKIP’s Position is against. This Directive is designed to provide the EU with tools to deal with unsound or failing credit institutions and investment firms (and their group entities). It aims to make sure ‘resolution’ takes place speedily and with minimal risk to financial stability. The Directive intends to preserve systemically important functions when a bank fails so that, on failure, shareholders and creditors, rather than taxpayers, bear the losses. Passes powers to EU institutions (including the European Banking Authority and the European Central Bank) and draconian powers to Resolution Authorities in Member States."@en1
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