Sunday May 31, 2020

EU state aid rules for banks in crisis backed by top court

The decision comes as Italy and EU seek solution on investor burden-sharing

19th July, 2016
The European Court of Justice in Luxembourg Pic: RexFeatures

The European Union’s top court backed EU guidelines designed to prevent taxpayers from footing the bill for bailing out stricken lenders, strengthening the hand of Brussels regulators as Italy fights to shield some bondholders caught up in the nation’s banking crisis.

Tuesday’s decision is a show of support for the European Commission, which updated its crisis rules for banks in 2013 as part of a shift from taxpayer-funded bailouts to bail-in,...

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