World leaders support bank insurance scheme

Political and banking leaders at the World Economic Forum in Davos are largely supportive of the emergency fund, to prevent taxpayers picking up the bill for failure. The International Monetary Fund says the idea would be ‘practical'. Taxing financial institutions has also been discussed, but the proved controversial, and the insurance levy has been more popular among bankers and politicians in the US. While the British and French governments have backed taxation, opposition leader David Cameron has thrown his support behind the insurance scheme. Ideas on how to tackle future ec...