Reaching a long-awaited deal on the Single Resolution Mechanism, a key pillar of the Banking Union, Lithuania has concluded its Presidency of the ECOFIN Council on December 18 in Brussels. This agreement paves the way for negotiations with the European Parliament with a view to adopting the regulation before the end of the current parliamentary term, as requested by the European Council. The SRM would enter into force on January 1, 2015.

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