The public would be spared from further pain in bailing out banks in the future, with bondholders instead footing more of the bill under plans unveiled on Thursday (6 January) by the European Commission to give EU national regulators more powers to intervene ahead of any crisis.
The EU executive outlined a series of ideas up for discussion that suggest bondholders should be forced to accept a 'haircut' on their investments in a troubled bank or convert their bonds into equity.
Rea...
Back our independent journalism by becoming a supporting member
Already a member? Login here