Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

EU ministers reach deal on scheme to close failing banks: diplomats

Send a link to a friend 

[December 19, 2013]  BRUSSELS (Reuters)  European Union finance ministers reached an agreement on Wednesday on a blueprint to close failing euro zone banks, paving the way for the completion of banking union to restore investor confidence in the sector.

"There is a deal," said one EU diplomat, who was following the negotiations.

The ministers agreed to establish an agency and fund to shut down problem banks as soon as the European Central Bank starts to police them next year.

(Reporting by Jan Strupczewski, John O'Donnell, Martin Santa and Annika Breidthardt)

[ 2013 Thomson Reuters. All rights reserved.]

Copyright 2013 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Top Stories index

Back to top