U.K., Sweden Seek EU Budget Safeguards in Bank Resolution Plan
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The U.K. and Sweden are seeking guarantees that a planned euro-area system for handling failing banks won’t be able to tap the European Union budget to cover legal costs.
The two countries are opposed to the EU budget being used to pay damages if the European Commission, the bloc’s executive arm, loses court challenges against decisions it has taken to shutter banks, according to a document obtained by Bloomberg News.