from Gold Core:
EU finance ministers are nearing political agreement on how the EU’s firewall fund could provide direct aid to banks after bail-ins, Dutch Finance Minister and chairman of eurozone finance ministers, Jeroen Dijsselbloem has said.
The European Stability Mechanism’s (ESM) direct bank recapitalization tool and
bail-ins have been developing for nearly two years. Dijsselbloem said there was broad support for his latest proposal, which sets conditions for when and how bail-ins and the bank-aid tool will be usable in 2015.
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