Germany gives green light for banking union plans
Posted by seumasach on July 11, 2014
To minimize the expense to euro zone taxpayers, European Union policymakers have drawn up a law under which shareholders, creditors and very large depositors will lose money first in the event of a bank failure.
For some reason many commentators fail to distinguish between bail-in, as is the case here, and bailout, as we saw in US/UK in 2008. The above makes it clear.
11th July, 2014
Germany’s cabinet has approved a package of draft laws which effectively give the go-ahead to Europe’s plans for banking union – the main confidence-building response to the crisis in the financial sector, a government source said yesterday.
In These New Times 
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