EU unveils changes to bank bailout rules

By Agence France-Presse

Apr 20, 2023 12:29 am

THE European Union unveiled long-awaited measures Tuesday to shield taxpayers from the bill for bank bailouts, acting with renewed urgency after recent turmoil in the US and European banking sectors.

Under the proposals, troubled medium-sized and smaller banks will be encouraged to use funds from the financial sector instead of public money, the European Commission, the EU's executive arm, said.

Valdis Dombrovskis, commission executive vice president. AFP Photo

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