Nemotorná bankovní revoluce Evropy

BRUSEL – Koncem minulého roku ministři financí eurozóny dospěli ke kompromisu ohledně základních prvků Jednotného rezolučního mechanismu (SRM), tedy způsobu jak přistupovat k bankám v nesnázích. Vypadá nehezky, ale zároveň se zdá, že nejspíš bude fungovat.

Hlavní ingrediencí kompromisu je, že se v případě nutnosti zachránit banku použijí, alespoň zpočátku, samostatné národní fondy a zároveň se vytvoří společný Jednotný rezoluční fond (SRF), naplněný v příštích deseti letech až 55 miliardami eur z finančních příspěvků samotných bank. Celý SRM by řídil sbor národních inspektorů a zástupců Evropské centrální banky a Evropské komise.

Nedostatky tohoto kompromisu jsou zjevné. V prvé řadě SRM vůbec nebude, alespoň zpočátku, „jednotným“ mechanismem. Za problémy „svých“ bank budou nadále zodpovědné národní fondy, tedy národní orgány, a podíl SRF na záchranných operacích jen postupně poroste. Od současnosti bude trvat přinejmenším deset let, zhruba do roku 2025, než bude SRM skutečně „jednotný“ a zapojování samostatných národních fondů skončí.

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