EU Leaders Under Pressure for Bank Rescue Plan Before G-20

(Updates with Shapiro’s comment in sixth paragraph.) Oct. 7 (Bloomberg) — European Union leaders are under pressure from investors to devise a comprehensive plan to rescue the region’s banks before a Group of 20 summit in November. “A blanket recapitalization of banks, in some cases, over- capitalizing those banks, would be the only thing that’s [...]

Written on October 10, 2011 | Posted in News

Deposit Flight at European Banks Means Risk Piling Up at ECB

(Updates with ECB lending dollars to two banks in 15th paragraph.) Sept. 14 (Bloomberg) — European banks are losing deposits as savers and money funds spooked by the region’s debt crisis search for havens, a trend that could worsen economic and financial conditions. Retail and institutional deposits at Greek banks fell 19 percent in the [...]

Written on September 15, 2011 | Posted in News