The harmonization of national systems for the guarantee of bank deposits must move forward, Bank of Greece (BoG) Governor Yannis Stournaras told the conference “Banking Resolution at Ten: Experiences and Open Issues” on Wednesday, ANA reports.
As the Greek central banker said, “No bank should be allowed to pass on the cost of its own bad management to the taxpayer just because it is considered ‘too big to fail’. However, the exit of a bank from the banking market should be carried out in a coordinated manner, should not disrupt the provision of critical functions, should not jeopardize the financial stability of the banking system overall, and should prevent an unnecessary loss of value.”
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