RRD to be agreed by June 2013

On 14 December 2012, the European Council published its conclusions regarding the steps necessary to complete economic and monetary union (EMU).  These include:

• the need for the rapid adoption and implementation of the single supervisory mechanism (SSM);
• the agreement on the terms of the Recovery and Resolution Directive (RRD) and the Deposit Guarantee Schemes Directive by June 2013; and
• the rapid follow-up to the proposals of the Liikanen Group.