The European Commission Wednesday proposed that each European Union government levy a tax on its banks and use the proceeds to create a fund dedicated to ensuring the "orderly failure" of troubled banks.
The proposal would create a European network of such funds that would follow the same rules, although the commission, the EU's executive arm, didn't provide details on how high the tax should be, Wall Street Journal says.
Details of the plan were scarce, with no word on how big the funds would likely be or exactly how they would be funded -- for example, through a tax on banks' profits or on the size of their balance sheets.
Under the plan, each member country would set up its own fund. However, there could be disagreement over the degree of autonomy countries would have in collecting the money and over how it could be spent, MarketWatch reports.
In recent years, genetics has become a cutting-edge science, not only in the professional field of biology, but also because of the enormous social reach of its discoveries and approaches. Not in vain, practically every day the press offers us the discovery of a new gene, a new hereditary determinant directly involved in the manifestation of diseases or physical characteristics.
On December 14, President Putin holds his annual Q&A session with Russian and foreign journalists. This conference is considered to be the beginning of his presidential campaign