Press release - Klaus Regling quizzed about wider lending role for European Stability Mechanism - Committee on Economic and Monetary Affairs

The European Stability Mechanism's current legal setup would not allow it to become a "backstop" lender to a newly-created EU bank resolution fund, ESM Managing Director Klaus Regling told Economic and Monetary Affairs Committee MEPs on Tuesday. Pressed repeatedly on the matter, Mr Regling did however concede that he was open to considering other possible legal interpretations which could justify this role for the ESM.
Committee on Economic and Monetary AffairsSource : © European Union, 2013 - EP
source - -- 09/24/13