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European Union finance ministers agreed Friday to double a war chest for dealing with failing banks and boost powers of the eurozone bailout fund, but were split over whether to have a mechanism to restructure government debt or a eurozone budget. All the EU's finance ministers except Britain, which will leave the bloc in March, discussed ideas for deeper economic integration of the eurozone. The ministers were preparing for an EU summit on June 29, when leaders will discuss strengthening the role of the ESM bailout fund and completing an EU banking union project intended to increase savers' trust in eurozone banks.This would be a new power for the ESM, which so far can lend to countries only if they agree to a reform program designed by the eurozone.
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