EU agrees on bank-failure rules to avoid bailoutsBRUSSELS (AP) – The European Union has struck a deal on rules establishing who will pay for bank bailouts in the future without taxpayers having to foot the bill. The agreement reached by the EU’s 27 finance ministers after seven hours of negotiations early Thursday is an important step toward establishing Europe’s so-called banking union with the goal of restoring financial and economic stability to the recession-hit bloc.

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