EU finance ministers reach draft deal on bank bailouts

European Union (EU) finance ministers have agreed an outline plan on how to rescue troubled banks - without leaving taxpayers to face the bill.

The banks' creditors and shareholders will take the first hits, followed by savers with deposits of more than 100,000 euros (£85,000).

If that is not enough, government help will be called upon and taxpayers will be among the last to shoulder losses.

EU taxpayers have had to pay for a series of bank rescues in recent years.

Dutch Finance Minister Jeroen Dijsselbloem said the outline deal marked a big change in the way that troubled banks are bailed out.

The next step is for EU governments to negotiate over the legislation with the European parliament.