Bank debt solution on EU ministers’ agenda

Ireland should come closer to knowing if its €32bn of bank debt will be taken over by the EU’s rescue fund, the ESM, after eurozone finance ministers meet on Monday.

The ministers are to have a political discussion about what bank debt the ESM will recapitalise once the ECB takes over supervision of the banks.

Germany, the Netherlands, and Finland insist the ESM will not fund the debts of banks incurred before the ECB took over the supervision.