Barnier discusses ways to avoid repeats of bank rescues

10/6/2010 | Bloomberg Businessweek

Michel Barnier, internal-market commissioner for the EU, said national agencies should take charge of "resolution funds" developed to avoid repeats of bank rescues and that banks should contribute to help lenders in crisis. "Where necessary, banks have to make a contribution so as to prevent taxpayers being in the front line," Barnier said. "We must have the means to act early in the day."

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