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15-04-2014

Parliament lifts bank bailout burden from taxpayers’ shoulders

Three measures to ensure that banks shoulder the risks of failure rather than relying on taxpayers to bail them out were approved by Parliament on Tuesday. Two deal with restructuring and winding down troubled banks, and the third ensures that banks, not taxpayers, guarantee deposits under €100,000 in the event of a run on a bank.

These measures complement the single bank supervision system, already in place, and take the EU far down the road towards banking union.

Full Press Release