The European Commission proposed long-awaited new rules on Tuesday on how to handle the rescue of troubled banks, soon after a period of turmoil in the banking sector in the United States and Europe.
The proposed text, which will have to be negotiated by EU Member States and MEPs, aims in particular to encourage the use of "
safety nets
" financed by the banking sector itself to protect depositors in the event of a crisis, rather than using public funds.
More information to come...