Economy

Oct 13, 2011

Maley: brace for an EU banking showdown

European politicians look set for a showdown with some of the region’s major banks as a result of plans to force banks to boost their capital buffers.

European politicians look set for a showdown with some of the region’s major banks as a result of plans to force banks to boost their capital buffers.

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  1. AR

    trouble for the French banking sector, which is heavily exposed to Greek debt.” As often reported, French banks hold 56B of Greece’s debt – 14B by the government but 42B by private banks, primarily SG & BNP.
    The dour Germans hold 34B, but the banks only 12B, the government holds the remaining 22B.
    Small wonder that France is reluctant to move as it will inevitably mean nationalising their, already, semi state banking system.
    I doubt that anyone interested needs reminding that France’s deficit was NEVER within the risible 3% decreed under the Strasbourg agreement which set the euro underway. It is a house of cards, containing far more fou than court cards.

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