Finance ministers of European Union countries are looking into coordinating recapitalizations of financial institutions, the Financial Times reported online Tuesday.
The newspaper cited officials as saying that EU ministers meeting in Luxembourg decided they haven't done enough to convince markets that European banks can withstand current economic conditions, and that additional measures are urgently needed.
"Capital positions of European banks must be reinforced to provide additional safety margins and thus reduce uncertainty," Olli Rehn, the EU commissioner for economic affairs, told the FT. "This should be regarded as an integral part of the EU's comprehensive strategy to restore confidence and overcome the crisis."
EU Finance Ministers Seek Bank Aid Coordination
Posted by
BorsaStreet.com
on Wednesday, October 5, 2011
Labels:
Euro Zone News
Elliottwave
(Video) Bob Prechter Explains 'Triple Top' Forming in U.S. Stock Market
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