Portuguese and Irish officials support banking union

carlos-costa

Top officials from the central banks of Portugal and Ireland spoke of their support of a comprehensive European banking union that goes beyond a single supervisory mechanism (SSM) on November 12.

Bank of Portugal governor Carlos da Silva Costa and Central Bank of Ireland chief economist Lars Frisell stressed the urgent need to break the sovereign bank link in Europe, stating the importance of a common deposit guarantee scheme and banking resolution fund.

Costa, speaking at a Lisbon conference

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