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Eurozone finance ministers are due to decide today when and how the European Stability Mechanism...

Eurozone finance ministers are due to decide today when and how the European Stability Mechanism (ESM) can be used to bail out distressed banks, with the issue one of the vital elements in creating a European banking union. The Eurogroup will decide how much a government would have to contribute to a bailout in its own country, who would take haircuts, and whether the ESM would become a shareholder in an institution it rescued.
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