The Socialists and Democrats in the economic and monetary affairs committee, today, backed the renewal of Elke König as chair of the Single Resolution Board. However, they have raised concerns regarding some aspects of her management of the board over the last three years.
Following Elke König’s hearing today, S&D Group spokesperson for economic and monetary affairs, French socialist, Pervenche Berès said:
“The renewal of Elke König’s chairmanship of the Single Resolution Board is not a blank cheque for the socialists and democrats. Lessons have to be drawn from the handling of Banco Popular bailout, which was sold at the last minute to its main rival Santander. It seems that the market had information in advance of the Board’s decision due to improper leaks. We also ask for more transparency on the resolution process, especially on the way in which the SRB manages the external valuation of the bank under resolution. In general terms, we expect clearer course of action in the future.”