EU talks drag on in row over funding source in case of bank crash

Just where the money would come from if there were a big banking crash in the future is still exercising eurozone finance ministers years after pledging to break the link between taxpayers and banks.

While there is agreement on the outline of the Single Resolution Mechanism and the Single Resolution Fund, the details have proved a major sticking point. The EU has given itself a deadline of the end of the year to reach a decision.

Banks themselves will be expected to at least partially fund any rescue or wind-up, with €473bn having been injected into the European banking system since 2008.