EU FMs offer assurances on bank rescues...

European Union finance ministers have offered assurances for bank rescues, after difficult talks in Brussels on how to shore up the banking system. The European Central Bank is leading a year-long review of the EU’s largest banks to find and then fix or weed out weak banks.

The ministers have said that they would make sure the banks have restructuring plans ready in case they failed. They also agree any restructuring would favor using private money first - from investors or shareholders - rather than taxpayer funds.