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Eurozone Finance Chiefs Agree to Unified Banking Oversight

Eurozone finance chiefs have agreed to centralized controls over failing banks in Europe's 17-nation euro currency bloc.The finance ministers late Wednesday adopted a plan that would force the shareholders and creditors of banks, instead of governments and taxpayers, to cover losses when any of Europe's more than 6,000 financial institutions collapse. The agreement is aimed at protecting the eurozone from having to bail out its member governments, as it has done in recent years...

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