With new rules now in place on how distressed banks in the euro zone should be resolved in the future, a new report on the effectiveness of these bail-in and resolution measures is timely.
Published by the International Centre for Monetary and Banking Studies in Geneva and the Centre for Economic Policy Research in London, it states clearly that “failed financial firms should not be bailed out by the taxpayers”.
The report reminds us that European taxpayers covered more than two-thirds of the cost of resolving and/or recapitalising distressed banks following the crash in 2008.
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