Noonan: Credit line can break doom cycle

Agreeing a credit line between a common resolution fund and the ESM will be the most effective way of breaking the bank-sovereign doom loop, according to Finance Minister Michael Noonan.

There is no agreement at EU level for this proposal because some of the bigger states like Germany are still opposed to such a move.

Mr Noonan was speaking at the ‘Future of Banking in Europe’ conference held in Dublin.