Copenhagen, 02/04/2012 (Agence Europe) - The ECB favours a European approach that moves in the direction of a European fund to finance the cost of restructuring failing banks active in more than one country, said ECB Vice-President Vítor Constâncio on Saturday after the ECOFIN Council in Copenhagen. At the meeting, Europe's financial leaders decided on the new crisis management system to deal with banks going bust in Europe (see EUROPE 10586).
Constâncio said that an EU fund would deal...