Press review | 07/06/2012

Banks to bail themselves out in future

Around 8,000 European banks are to pay contributions into national funds. (© AP/dapd)

The EU Commission presented a draft legislation for dealing with banking crises on Wednesday in Brussels. As of 2015 not the taxpayers but banks themselves and their creditors are to bear the costs of a bailout. In view of the crisis in Spain some commentators voice regret that the new regulations will no go into effect immediately, while others see the proposal as ill-conceived.