Ferdinando Giugliano: How bailing out bankers has become all the rage again

Politicians agreed on a rulebook for recapitalising banks after €600bn was spent saving them. But so many exemptions now make it worthless, says Ferdinando Giugliano.

AFTER the financial crisis, Europe’s political leaders put together a complex set of rules to make it harder for future governments to bail out banks. That system is looking so full of holes that one wonders what the point of it is.