London, 30 May 2014 -- The creditworthiness of European Union (EU) sovereigns may, over the longer term, benefit from the Bank Recovery and Resolution Directive (BRRD)/Single Resolution Mechanism (SRM) package, and, more broadly, the steps taken by the EU towards a banking union. The measures aim to reduce the risk that bank-related contingent liabilities will crystallize on EU government balance sheets in a future banking-sector stress scenario, says Moody Investors Service in a new report published today. However, in the short term, the new framework will have no direct impact on EU sovereign ratings.

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