This paper was published earlier this month by the European Parliament in anticipation of a hearing of Ms Elke König, chair of the euro area's Single Resolution Board in Brussels. At the request of the Economic and Monetary Affairs (ECON) Committee, I assessed the need for legislative reform of "precautionary recapitalisation," a modality of public intervention in weak banks set out in the EU Bank Recovery and Resolution Directive (BRRD) of 2014.
A near-identical version of the same text was republished by Bruegel last week.
Click here (for the ECON version) or here (for the Bruegel version) in case the above links do not work.