EU seeks new banking aid fund for non-Eurozone countries

The European Commission wants to create a new financial backstop for ailing banks from its member countries that do not use the euro currency.

The 17 EU countries that use the euro have a €500bn fund, called the European Stability Mechanism (ESM), that they can tap to help rescue troubled banks. But the other 11 members, which include Britain, Poland and Hungary, do not.