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Thursday, June 20, 2013

Eurogroup to discuss bank bailouts.

Eurozone finance ministers are due to decide today when and how the European Stability Mechanism (ESM) can be used to bail out distressed banks, with the issue one of the vital elements in creating a European banking union. Among other things, the Euro group will decide government contributions, who would take haircuts, and whether the ESM would become a shareholder in an institution it rescued.

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