BRUSSELS (AP) -- European Union leaders are pledging to create a body with the authority to restructure or close down banks in trouble.
The leaders meeting in Brussels said early Friday that such wind-downs should be paid for by money contributed by banks themselves.
The leaders also called for the creation a continent-wide deposit guarantee system.
The commitments come after EU finance ministers agreed to submit their banks to supervision by the European Central Bank — considered an important part of cleaning up the continent's lending sector and ending its financial crisis.
- Politics & Government
- Banking & Budgeting