Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-04-15-Speech-2-382-937"

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"en.20140415.62.2-382-937"2
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"This proposal, a key post-crisis measure, aims to set rules for the orderly recovery of ailing banks or break-up of failing banks in order to avoid systemic effects on the banking system as a whole and to avoid taxpayer involvement in the costs of such events. It includes a number of measures known as ‘bail inʼ which aim to put the costs on creditors, rather than the general public, while protecting as much as possible ordinary depositors. While I voted against the committee report, the final outcome of the proposal reached in trilogue is satisfactory to the UK, having resolved a number of issues of national importance. In particular, the special funds to which banks must contribute have been organised in such a way as to be compatible with the UKʼs banking levy. For these reasons, I voted in favour of the final report."@en1
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