On 11 March 2025, the European Parliament approved the appointment of a new member of the Single Resolution Board (SRB), the body responsible for managing the failure of large banks in the euro area. The vote recorded 562 votes in favour, 19 against and 67 abstentions.
The Single Resolution Board is a key European agency created after the 2008 financial crisis. Its role is to plan and implement the resolution of failing banks – that is, to organise their orderly failure without resorting to taxpayers' money. It is part of the Single Resolution Mechanism (SRM), which applies to the 20 euro area countries. SRB members are appointed for a five-year term, renewable once. The nomination proposal came from the European Commission, after consulting Parliament.
Parliament approved the appointment of the candidate proposed by the Commission. Before the vote, the Committee on Economic and Monetary Affairs (ECON) had heard the candidate and issued a favourable opinion. The plenary vote was required for the appointment to be validated. Parliament therefore gave its green light, allowing the candidate to take up the post.
The vote was held by secret electronic ballot. The results are as follows:
The large majority shows a strong political consensus in favour of the appointment.
For European citizens, this appointment is a technical but important step. The SRB ensures that, if a large bank fails, its shareholders and creditors pay, not taxpayers. This protects customers' savings and avoids financial crises like that of 2008. By approving this member, Parliament helps maintain a safer and more stable banking system in the euro area. Citizens can therefore have confidence in the EU's ability to manage bank failures in an orderly manner.