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A new paradigm for a post-imperial world

EU forges bank bailout deal to protect taxpayers

Posted by seumasach on June 27, 2013

“Bail-in is now the rule,” Ireland’s finance minister, Michael Noonan, said. The rules put an end to moral hazard by making it clear that banks would suffer before the government might come in to help, if at all, he said. “This is a revolutionary change in the way banks are treated.”

Guardian

27th June, 2013

 

The European Union has struck a deal on rules establishing who will pay for future bank bailouts without taxpayers having to foot the bill.

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