Quote:
Proposals designed to stop taxpayers' money being used to bail out failed banks will be unveiled by the European Commission later.
They aim to ensure losses are borne by bank shareholders and creditors and minimise costs for taxpayers.
|
http://www.bbc.co.uk/news/business-18333240
Sounds like the Perfect Storm scenario.... shareholders and creditors will then sell off all stock and withdraw all cash from banks they fear will fail.
Are the Eurocrats who came up with this idea on the same planet as the rest of us?