European Council - ESM Direct Bank Recapitalisation Instrument - Main Features Of The Operational Framework And Way Forward

Following the 29 June 2012 statement by the Heads of State or Government of the euro area reaffirming the need to break the vicious loop between banks and sovereigns, the Eurogroup has worked intensively on the operational framework of the future ESM direct recapitalisation instrument. The main features of the instrument are now agreed in view of having the instrument operational once an effective Single Supervisory Mechanism is established. 

Click here for full details.