In These New Times

A new paradigm for a post-imperial world

Deal reached on bank “bail-in directive”

Posted by seumasach on October 29, 2014

European Parliament

12th December, 2013

Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the “bail-in” principle by January 2016, thereby ensuring that taxpayers will not be first in line to pay for bank failures.

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