Arab Today, arab today brussels unveils plan to protect taxpayers
Last Updated : GMT 22:00:24
Arab Today, arab today
Arab Today, arab today

Brussels unveils plan to protect taxpayers

Arab Today, arab today

Arab Today, arab today Brussels unveils plan to protect taxpayers

Berlin - DW

Taxpayers should not have to cover the costs of failed banks, says the EU. Brussels has a plan to force banks themselves, creditors and shareholders to come to the rescue. The European Commission on Wednesday presented a draft plan to shelter taxpayers from the risk of again having to fork out billions for failing banks. It suggested a \"bail-in mechanism\" that would give national regulators the power to fire management, force losses on shareholders and creditors and even order the breakup and sale of a troubled bank. \"Our proposals protect European taxpayers from the financial consequences of banks going bust,\" Commission Chief Jose Manuel Barroso said in a statement. The ideas presented on Wednesday had been floated for quite some time, with EU Market Regulation Commissioner Michel Barnier first speaking of the need to make banks pay for their own crises back in 2010. Now that the banking crisis is deepening in Spain, opinion in Brussels has swung towards the merits of moving forwards on the issue. Step towards banking union \"We must equip public authorities so that they can deal adequately with future bank crises,\" Barnier commented. \"Otherwise citizens will once again be left to pay the bill, while the rescued banks continue as before, knowing that they will be bailed out again.\" According to statistics from Brussels, EU governments have already had to provide over 1.5 trillion euros ($1.9 trillion) to support their lenders since the start of the financial turmoil in late 2008. Rules forcing banks to pay into a so-called resolution fund - which is meant to pick up the bill for future bank failures - would, however, only apply as of 2018, the Commission said. This is to give banks time to raise the required extra capital.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brussels unveils plan to protect taxpayers Arab Today, arab today brussels unveils plan to protect taxpayers

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brussels unveils plan to protect taxpayers Arab Today, arab today brussels unveils plan to protect taxpayers

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday