Flash: Could Eurozone institutions start to fail? - Danske Bank

FXStreet (Barcelona) - Anders Vestergård Fischer, Analyst at Danske Bank comments that in her first public interview Daniele Nouy, head of the euro-zone's Single Supervisory Mechanism (SSM), said that the ECB’s upcoming health check of the region’s biggest lenders would need to see some institutions fail to be credible.

Key Quotes

“‘We have to accept that some banks have no future (...) we have to let some disappear in an orderly fashion, and not necessarily try to merge them with other institutions’.”

“The SSM, which will operate as the supervisory section within the ECB, will take on responsibility of the eurozone’s 130 largest lenders in November.”