Wednesday, October 05, 2011

"No banking sector can sustain a generalized loss of confidence...

The IMF's Antonio Borges warns Europe it could not ignore reality:

"There has been a lot of talk about French banks, but ... the problem is very widespread," he said. "No banking sector in the world can sustain a generalized loss of confidence and we need to restore that confidence all over Europe."

Meantime, in Brussels, standing alongside the appointed and worthless EU Commission President Barosso, (now in his second term,) German Chancellor Angela Merkel, suggested re-capitalising the banks could soon be necessary, read here!



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