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Economy
In reply to the discussion: Weekend Economists and the Accidental President December 13-15, 2013 [View all]xchrom
(108,903 posts)61. Exclusive - Euro zone to share costs of bank closures gradually : proposal
http://uk.reuters.com/article/2013/12/15/uk-eu-banks-closures-idUKBRE9BD0EN20131215
(Reuters) - The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU proposal seen by Reuters on Saturday.
The proposal, prepared by Lithuania which holds the rotating presidency of the European Union, will be discussed at an extraordinary meeting of senior EU officials in Brussels on Monday, December 16.
Separately, several European finance ministers and senior EU officials will meet again in Berlin on Monday to try to make further headway on a compromise for rules to wind down stricken banks, senior euro zone sources told Reuters on Sunday.
The meeting will, in essence, include the same group of finance ministers and senior officials who met in Berlin on December 6, the sources said.
(Reuters) - The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU proposal seen by Reuters on Saturday.
The proposal, prepared by Lithuania which holds the rotating presidency of the European Union, will be discussed at an extraordinary meeting of senior EU officials in Brussels on Monday, December 16.
Separately, several European finance ministers and senior EU officials will meet again in Berlin on Monday to try to make further headway on a compromise for rules to wind down stricken banks, senior euro zone sources told Reuters on Sunday.
The meeting will, in essence, include the same group of finance ministers and senior officials who met in Berlin on December 6, the sources said.
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