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Bank bail-in rules agreed

  • 2013-12-18
  • From wire report
VILNIUS - European Union nations agreed to new rules for bank bailouts, or ‘bail-ins’ late in the day on Dec. 11, in an effort to save taxpayers from paying for the rescue of ailing financial institutions, as they’ve been forced to by governments in this latest financial crisis, reports LETA.“Big step tonight,” EU Commissioner Michel Barnier wrote on Twitter.“Taxpayers no longer in front line to pay 4 banks mistakes,” he added. “Banks will have to put money aside for rainy days. We are learning lessons of crisis,” he said afte...
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