Brussels keen to make banks pay for bail-outs

Banks themselves will have to pay for their own bail-outs in the future instead of taxpayers and government cuts in public spending under plans unveiled on Wednesday (20 October) by the European Commission.

"No bank should be 'too big to fail' or too interconnected to fail," EU Internal Market and Services Commissioner Michel Barnier said, introducing the proposals at a press briefing in Brussels. "We need a clear framework which ensures authorities throughout Europe are well prepared t...