Britain and France are at odds with other European Union countries over plans to insure against future bank failures, in another sign of the problems in trying to forge a common response to the bloc's economic woes.
Michel Barnier, EU internal market commissioner, set out plans for member states to form national funds to help wind up or reorganise failing banks, funded by a levy on the financial sector, writes the FT. London rejected the idea, arguing it would introduce "moral hazard" and encourage banks to think the levy was an insurance premium that entitled them to help if they got into trouble. French officials said Paris had similar concerns. FULL STORY...
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