ECB Makes Crucial Policy Change on Bank Bailouts
- Monday, July 16, 2012, 2:54
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Last week, I wrote here about how the EU appeared determined to stick to its policy of making taxpayers cover the losses of privately-owned banks by protecting all senior bond-holders. Afterwards I spoke with the Wall Street Journal’s Gabrielle Steinhauser about my criticisms of this policy and her story reported how small investors were likely to be hit by Spain’s bank restructurings but that senior creditors were safe “for now”.
http://www.forbes.com/sites/karlwhelan/2012/07/15/ecb-makes-crucial-policy-change-on-bank-bailouts/
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