For 10 years, Europe has been bailing out banks at no cost to taxpayers, but the Banking Union remains incomplete (with Carlos Costa Pina)

Carlos Costa Pina, from SRS Legal, described the resolution as a ‘world of exceptionality’, admitting that in extreme crises it may be inevitable to resort to public funds. Ana Perestrelo de Oliveira, a professor at the University of Lisbon, added that the regime passed the ‘constitutionality test,’ pointing to the Novo Banco case law as an example of the tension between regulatory flexibility and investor protection."