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Europe strikes deal to push cost of bank failure on investors

From uk.reuters.com

The European Union agreed on Thursday to force investors and wealthy savers to share the costs of future bank failures, moving closer to drawing a line under years of taxpayer-funded bailouts that have prompted public outrage. After seven hours of late-night talks, finance ministers from the bloc's 27 countries emerged with a blueprint to close or salvage banks in trouble. The plan stipulates that shareholders, bondholders and depositors with more than 100,000 euros (84,998 pounds) should share the burden of saving a bank. The deal is a boost for EU leaders, who meet later on Thursday in Brussels, and can show that ... (full story)

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