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EU System To Prevent Taxpayer Bank Bailouts Takes Effect

By Tom Zanki ( January 4, 2016, 7:14 PM EST) -- The European Union's long-awaited Single Resolution Mechanism, a eurozone-wide insolvency fund designed to ensure that failing banks won't require a taxpayer bailout, began operations on Jan. 1, more than two years since the idea was proposed in the aftermath of the financial crisis....

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