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Who should pay when banks go bust?

27 June 2013 Last updated at 10:55 BST

European Union (EU) finance ministers have agreed an outline plan on how to rescue troubled banks - without leaving taxpayers to face the bill.

The banks' creditors and shareholders will take the first hits, followed by savers with deposits of more than 100,000 euros (£85,000).

If that is not enough, government help will be called upon and taxpayers will be among the last to shoulder losses.

EU taxpayers have had to pay for a series of bank rescues in recent years.

Nkem Ifejika reports.