Joaquin Almunia: Several banks may need recapitalization

. (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 21 septembrie 2011

Joaquin Almunia: Several banks may need recapitalization

More European banks may need recapitalization due to the sovereign debt crisis, aside from the nine which failed the stress test, European competition commissioner Joaquin Almunia warned yesterday.

The commissioner showed that amid the worsening of the sovereign debt crisis, the EU should keep the crisis aid rules in effect, allowing governments to help their banks beyond 2012 if needed.

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