http://www.bloomberg.com/apps/news?pid=20601087&sid=akgf3fmsB6mM&pos=9
“We quite urgently need something for the members of European Monetary Union that we also didn’t have during the banking crisis two years ago,” Finance Minister Wolfgang Schaeuble told reporters yesterday. “Namely the possibility of a restructuring procedure in the event of looming insolvency that helps prevent systemic contagion risks.”
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