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An 18 hour meeting in Luxembourg broke up overnight without any consensus. Ministers say they were ‘close’ to finalising the details.
The issue at stake is a draft EU law recommending that when a bank fails the first to suffer will be the shareholders, followed by bondholders and finally depositors with more than 100,000 euros in their account.
Sweden, Britain and France say individual countries should have the final word on how to close banks.
Germany, the Netherlands and Austria want Europe-wide regulation.
The meeting will reconvene in Luxembourg on Wednesday.
More about: Banking, Ecofin, European UnionCopyright © 2013 euronews
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