EU has painted itself into a corner on bank bailouts
European Union member states are finding more and more ways to prop up failing financial institutions with public money. The longer it goes on, the harder it is going to become for authorities to crack down on a culture of bailouts.
When the Bank Recovery and Resolution Directive was first adopted in 2014, lawmakers said it would take taxpayers off the hook for future bank failures.Fast forward five years and that could not be further from the truth. Time and again, member states are saving financial institutions ...
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