EU's Barnier Urges Calm As European Bank Shares Plummet
PARIS -(Dow Jones)- European Union's Financial Services Commissioner Michel Barnier Monday urged investors to keep their cool in the face of a new plunge in European banking shares, repeating recent Europe-wide stress tests have shown banks in the region are generally solid and that banks are already in the process of bolstering their capital to comply with new solvency standards.
"We are in a serious situation, but we must remain calm," Barnier told reporters on the sidelines of a conference in Paris. Recent European stress tests "show the overall situation of banks is solid."
http://tinyurl.com/3rt5vxc
Looks like the EU is learning well €¦ and of course if you knew this information before other people did, it €s quite an advantage in the market. So in summary €" as long you don €t admit there is a problem, there is not a problem at least in banking circles. Greek debt at 100 cents on the dollar! Want some?
The European Union is delaying proposals for senior bondholders of failing banks to take losses because the measures may spook investors at a time of market turbulence and they need more work, according to two people familiar with the situation.
http://www.favstocks.com/eu-follows-u-s-in-hear-no-evil-see-no-evil-solutions-on-debt/0978671/
EU Said to Delay Bank Bond Writedown Plans Amid Turbulence
http://www.bloomberg.com/news/2011-09-07/eu-is-said-to-delay-bank-bondholder-writedown-plan-amid-market-turbulence.html?cmpid=bit
Monday, 12 September 2011
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