Director / Editor: Victor Teboul, Ph.D.

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Europe Sketches Plan to Close Troubled Banks

Eurozone countries edged closer on Tuesday to agreeing a plan to close ailing banks and sharing the costs, a move that would pave the way for a fundamental reform to underpin the currency and its banks. After a financial storm that toppled banks and dragged down states from Ireland to Spain, countries examined a fresh blueprint outlining what to do when a bank fails, a critical second pillar of a wider reform dubbed banking union. The draft plan, circulated among EU...

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