Michel Barnier

Europe Unable to Figure out who will Pay in Bank Failure

On Saturday, Europe failed to agree on how to share the cost of bank collapse on Saturday. Germany resisted attempts by France to water down rules designed to spare taxpayers in Future crisis.

Talks were held for almost 20 hours late into night, but could not forge a way to set up an EU-wide regime to first impose losses on shareholders and bondholders when a bank fails.


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