Tuesday, July 23, Vilnius - President Dalia Grybauskaitė met with the European Commissioner for Internal Market and Services, Michel Barnier, to discuss the key tasks of the Lithuanian Presidency in strengthening the EU internal market. The focus of the meeting was on further progress in building a banking union.
"Among the underlying tasks of the Lithuanian Presidency is to strengthen the financial sector by continuing to build a banking union. One of its components is a single resolution mechanism for banks which would facilitate the management of bank crises in the future. In case of difficulties, it would be banks themselves who would shoulder the burden of losses thus minimizing costs to taxpayers and threat to public finances," the President said.
She pointed out that the banking union is being created for the three main reasons: to restore confidence in banks, improve and coordinate the quality of supervision of banks, and prevent crises arising due to vulnerability of banks.
Copyright - Dž. G. Barysaitė
Last updated 2013.07.23 08:41Back