European finance ministers have been meeting to decide who get - TopicsExpress



          

European finance ministers have been meeting to decide who get stuck with the bill when banks fail. Since the 2008 financial crisis it has mostly been taxpayers, but at their gathering in Luxembourg on Friday, the ministers were trying to agree rules, including forcing losses on large savers. Under discussion is a draft EU law which recommends that the first to suffer would the shareholders of a failing bank, then it would be bondholders, and finally each depositor with more than 100,000 euros in their account. But there is division over how strict the new rules should be. Sweden, Britain and France believe individual countries should have the final word on how to close banks and not be tightly bound by any new EU rules.
Posted on: Fri, 21 Jun 2013 13:56:18 +0000

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