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Thursday, June 27, 2013

EU fin mins agree on rules for bank rescues.

At the second time of asking, EU Finance Ministers have agreed on measures to deal with failing banks. The proposals include imposing losses of up to 8% of a bank's total liabilities on shareholders, creditors and then deposits of over €100,000, after which governments will be able to supply funds of up to 5% of liabilities. EU leaders are set to approve the measures at a meeting today.

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