Arab Today, arab today brussels unveils plan to protect taxpayers
Last Updated : GMT 17:11:03
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.

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 Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
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