ECB President Mario Draghi asked EU to keep state aid rules for banks flexible

MILAN: Banks that are still viable but need state aid to boost their capital base should be allowed to receive help without inflicting losses on their junior bondholders, European Central Bank President Mario Draghi told the European Commission.

EU fin mins blocked on thorny banking union

LUXEMBOURG (AP) — Europe made little progress Tuesday in its efforts to secure the region's stricken financial system and ensure that failing banks never risk an entire country's economy again when finance ministers from the 27-country European Union failed to agree on how a single banking supervisor should be set up.