Banks should pay for winding down their failing peers but sometimes taxpayer money may also be needed in this process, European Central Bank Vice President Vitor Constancio said on Tuesday. There may be a need for "temporary use of public money when, for example, a bridge bank needs to be created," Constancio told a bank regulation conference in Helsinki. The contribution of public money should be in the form "of credit lines that need to be repaid later on." He added that banks should be the first line of funding for any bank resolution schemes. Constancio also said that the euro zone banking union project, seen ... (full story)