EU draft bank rescue plan says countries must share burden: FT

From reuters.com

Struggling euro zone countries seeking future aid from the region's rescue fund to prevent their banks collapsing will have to share the cost burden, according to a draft euro zone proposal seen by the Financial Times. Countries asking for help would have to either invest alongside the European Stability Mechanism (ESM) or guarantee it against any losses, according to the plan, which the newspaper said had been circulated in late 2012 among finance ministry officials. In a major step last June, EU leaders agreed to allow the ESM to directly recapitalize banks and reduce the burden on countries such as Spain and ... (full story)