Translation of "Marode banken" in English

But there are ailing banks in every country, and Germany is no exception.

And in less than two years we have built a banking union so that taxpayers will no longer pay for banks in trouble.

This is problematic insofar as it would create the irresistible temptation for all concerned to provide ailing banks that really should be shut down with fresh credit from the printing press.

In the case of one large European bank, it demonstrated that it is indeed possible for ailing banks to exit the market overnight without weighing on public funds.

S & D Euro MP Elisa Ferreira today led a cross-party majority in the European Parliament’s economic and monetary affairs committee on the establishment of a Single Resolution Mechanism to deal with failing banks.

This way, ailing banks are no longer able to take states, whose bonds they may hold, down with them.

For sure, we can breathe a sigh of relief that we were able to overcome four bank failures without any far-reaching consequences and that ailing banks exited the market successfully.

Taxpayers will ultimately be left with no alternative other than to pump more funds into these institutes, or to take them over de facto (which is what happens when politicians nationalize ailing banks).

In fact, the ECB has already massively financed ailing banks by accepting weak collateral in return for refinancing loans, leading to huge Target imbalances.

However, the addressees of solidarity are not ailing banks but the citizens of the countries ridden by the crisis and among them those particularly weak socially.

Since it has been stipulated that a banking supervisory authority must be set up before ailing banks can be rescued using ESM funds, there is now a rush to set up something that can be called a banking authority as quickly as possible.

The form of banking union that is currently being pieced together is aimed at preventing ailing banks from holding debt-ridden nation-states hostage and vice versa.

For some, particularly in southern Europe, it is seen as a means of shifting the burden of supporting their indigent banks to those with deeper pockets.

But in the end, they are compelled against their will to take over the ailing banks to prevent them from collapsing.

Standing in the way of a banking union that would spread the cost of winding down the ailing banks across the European Union is only the most recent example.

The Banking Union was established in 2012 to break the vicious cycle of fragile banks and weak public finances in the euro area.

The planned nationalization of the ailing banks would be a difficult balancing act between expanding national debt and allowances for ailing loans, estimated to make up about 50% of all loans.

This includes capital requirements for banks and insurance companies, and a uniform framework to deal with ailing banks

Thereby, in fact, in 2009 the United States successfully nationalized all ailing banks in order to dispose its debt, and subsequently privatized them again.

Following lengthy negotiations between the European Parliament and the Council, an agreement on the Single Resolution Mechanism (SRM) to wind down failing banks, seems within reach.

The EU, the IMF and the government of Cyprus are negotiating a 10-billion euro bailout for the country's ailing banks.

With this, the second pillar of a banking union after banking supervision, taxpayers are no longer to be made to pay for bailing out failing banks.

The €750 billion rescue package rubber-stamped by the EU 27 on 9 May applies the same strategy the US used two years ago, in the autumn of 2008, to save failing banks.

In the crisis of the ailing Italian banks Volker Wieland is skeptical regarding the rescue arrangements.

The European Council also agrees in principle on the rules to be put in place on how to deal with banks in difficulties, as part of the future banking union.

But even here, it will only work if all other banks are healthy and the sickly bank is the exception.