LUXEMBOURG (Reuters) – The European Union will seek on Friday to forge rules to force losses on large savers when banks fail, a sensitive reform that could shape how the euro zone deals with its sickly banks.
Finance ministers in Luxembourg will try to resolve one of the most difficult questions posed by Europe’s banking crisis – how to shut failed banks without sowing panic or burdening taxpayers.
LUXEMBOURG (Reuters) – Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, a long-promised move that aims to break a downward spiral between bad banks and their indebted home countries.
Using the power of the 500-billion-euro bailout fund as a backstop for banks is aimed at restoring confidence in the sector, ravaged by three years of debt and financial crisis.
LUXEMBOURG (Reuters) – France cleared the European Union to launch free-trade talks with the United States on Friday after fellow EU members accepted its demand to shield movies and online entertainment from the might of Hollywood and Silicon Valley.
After 12 hours of talks, EU officials announced that the 27 EU trade ministers had finally agreed a negotiating mandate towards what could be the world’s most ambitious trade agreement.
LUXEMBOURG (Reuters) – France was adamant on Friday that it would block an EU free-trade deal with the United States unless its culture was shielded from the might of Hollywood and Silicon Valley.
Paris has refused to join the 26 other EU governments that want talks to start in July, unless television, movies and developing online media are left out of a deal.