About: taxpayers

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Banking union 06-06-2012

EC presents plan for crisis banks

The European Commission on Wednesday unveiled a new proposal that will protect taxpayers from banks that go bust. Under the new draft legislation, shareholders and creditors would be forced to accept losses of troubled-banks instead of using public-funded bailouts. The new plan also allows member states to take control of crisis-hit banks and replace the management. Each institution would also have to create a special fund dedicated specifically for potential future crises.
Euro & Finance 23-06-2011

Barroso and Commission are also to blame for Greek crisis

As EU leaders gather in Brussels to solve the Greek crisis, Athens and Brussels should share the blame for having let the country fall down its slippery slope. Now a new social contract is needed between the EU and its citizens to restore trust, writes former Greek MEP Yiannis Roubatis.

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