EU lawmakers called on Thursday for a strengthening of plans to tackle failed banks in the euro zone, as tensions mounted in talks to seal the important reform. The call from the European Parliament comes as efforts to form a united front behind euro zone banks, known as banking union, reach a climax. The European Parliament wants euro zone countries to promptly establish a shared fund to cover the costs of bank failure. Sharon Bowles, who heads the parliament's influential economic and monetary affairs committee, said the vote would "send a strong message" to countries that they needed to show willingness to compromise.
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