EC presents plan for crisis banks
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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. The proposal is considered to be a step forward towards the so-called 'banking union' championed by ECB's chief Mario Draghi. This would include setting up a single European fund to directly bailout banks. Until now, each country is responsible to rescue its own banks if needed. The idea, however, hasn't been well received in wealthy countries like Germany, as it could lead them having to bailout other banks. The new legislation is unlikely to take effect before 2014 and with a bail-out looming over Cyprus and Spain, it might be a bit too late to avoid taxpayers from sharing the burden. In Spain, one of the largest banks needs over 19 billion euros of refinancing. The Spanish government has promised to deal with the problem, but it has yet to explain where the money will come from.
Comments
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what free market? i don't see this going on in America- for once there is good news coming out of this whole crisis disaster
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We'll keep trying to get better; thanks for the feedback. It reminded me of a quote from Whoopi Goldberg - “I don't have pet peeves, I have whole kennels of irritation”. I hope the accent irritates you less over time. :-)
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Don't worry, we won't ban you. You're one of our most loyal viewers. Just to clarify - we are an independant media, not the EU. We report on what's happening in EU policy and EU affairs because we think it's important for European citizens to know. We find that most European citizens agree, even euroskeptics - watch?v=J0_DrwYAcoI
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The greatest economic minds in europe and its taken them 5 years to come up with some common sense. Unreal !
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Maybe your pronuntiation is better. If so, why don't you apply for journalist at the EUXTV yt channel? Then, we could assess your language skills. Btw, the important thing when learning a foreign language is not the pronunciation. You will always have an "accent", and of course, giving jobs to native English speakers just because their perfect accent would be very unfair. You comment shows your lack of understanding. If you don't like her pronunciation, just change the channel.
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Of course they're important. But there's always room for improvement. I didn't mean to hurt anyone, it's just that *this* kind of pronunciation is dreadfully irritating (for me at least).
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lol
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We have to give our viewers something to complain about. :-) Native English is an added value but journalistic competence and technical ability are more important.
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Why can't they find a newswoman with good pronunciation?
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Wow wish they could do the same for us in the U.S. We got Obama the Worlds President Bailing out every Leftists Bank and business he can. Hell he's even bailing out business before they exist with investment money that they steal and then go belly up !
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