EU's Almunia prudent on bank rescue plan rollout

The new framework the European Commission is working on to avoid taxpayers having to bail out banks again might be delayed due to market conditions, Competition Commissioner Joaquin Almunia said on Saturday. The European Commission presented a blueprint last year to boost the powers of the bloc's authorities to intervene in failing banks.
"We are prepared to adopt the decisions for the stable regime to control state aid in cases of bank restructuring at the end of this year, but given the situation of the markets I would be prudent," Almunia said at a conference.