EU Resumes Battle Over Imposing Losses at Failing Lenders
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European Union finance ministers struggled for consensus as they took up an Irish-drafted compromise proposal for assigning losses at failing banks, extending a deadlock that doomed talks last week.
The bloc’s 27 finance chiefs remained “quite far away” from agreement as they convened for the emergency talks in Brussels at about 6 p.m. yesterday, Sweden’s Anders Borg told reporters. Ireland’s Michael Noonan, chairing the meeting, held preliminary talks earlier to get a deal he says is key for keeping EU crisis-fighting on track.