Il principio di proporzionalità nell’ambito del SRM: la prospettiva italiana

After 8 years since the enactment of the Single Resolution Mechanism (SRM), resolution has proved to be largely unenforceable: only the Banco Popular and, most recently, Sberbank Europe AG have entered into resolution. In fact, the standardisation of the EU crisis management and deposit insurance framework (CMDI)—tailored on large universal banks—has led resolution authorities (RAs) to provide a strict interpretation of the public interest (PIA). In essence, it seems there are several grounds for non-compliance between the existing framework and the fundamental principle of proportionality. The article seeks to provide a first analysis in that respect.