At the second time of asking, EU Finance Ministers have agreed on measures to deal with failing...

|By:, SA News Editor

At the second time of asking, EU Finance Ministers have agreed on measures to deal with failing banks. Losses of up to 8% of a bank's total liabilities will first be imposed on shareholders, creditors and major depositors with over €100,000, after which governments will be able to supply funds of up to 5% of liabilities. As further protection for taxpayers, states will create resolution funds that they'll finance with levies on banks. EU leaders are set to approve the measures at a meeting today.