Would a banking levy work?
A network of national funds should be introduced so the cost of bank failures are not met by the taxpayer says Michel Barnier, the EU internal market commissioner. Is this good news for the taxpayer?
Mr Barnier says such funds would provide part of a broader system aimed at preventing future financial crises. He said: "I believe in the 'polluter pays' principle."
Banks would be required to pay a levy into the funds which would not be used to bail out failing banks, but manage failures in "an orderly way".
And the EU report says that any levies that banks were made to pay should not be passed on to their customers in the form of higher charges.
Do you think a levy on banks is the way to tackle future financial crises? Could the levy lead to banks taking more risks because they feel insulated by the fund? Should financial regulation only be decided by national governments?
This debate is now closed. Thank you for your comments.