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EU Calls for Bank Collapse Fund

The European Union's finance executive called Friday for banks to pay into a fund that could be drawn upon in case of collapse, an effort to shield taxpayers from the fallout of future crises.

Officials are also calling for new ways to deal with insolvent financial groups that operate in multiple countries to avoid a repeat of the messy and expensive cross-border wrangling that followed the September 2008 collapse of U.S. investment bank Lehman Brothers.

For more: EU Calls for Bank Collapse Fund - ABC News

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