EU finance ministers will meet in Luxembourg on Friday (21 June) aiming to strike a deal on a regime to wind down failing banks, in the latest attempt by politicians to break the so-called "doom loop" between indebted banks and sovereigns.
The bank recovery and resolution directive sets out a hierarchy of shareholders and creditors who would be 'bailed in' to bear losses if a bank got into serious difficulties, leaving savers as the last in line to lose their money.
By forcing sh...
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