Europe's finance ministers inch closer to bail-in framework

euro in black light

The European Union's (EU) finance ministers today moved closer to agreeing a ‘mixed approach' to a bail-in mechanism for failed banks in the EU, with hardliners indicating they would be willing to accept giving preferential treatment to uninsured depositors in the creditor hierarchy.

The meeting, chaired by Irish finance minister Michael Noonan, heard from each finance minister in turn – as well as European Commissioner Michel Barnier, and Jörg Asmussen, member of the executive board of the Euro

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