Madrid: European banks need to strengthen their balance sheets, European Central Bank chief Jean-Claude Trichet was quoted on Tuesday as saying, amid growing fears about a bank lending freeze.
Bank of China’s halt on foreign exchange swaps with several European banks, as well as the ECB’s money market operations, were the latest signs that debt and economic woes are threatening to spread to the financial sector.
http://www.livemint.com/2011/09/20165704/Trichet-urges-EU-banks-to-stre.html?h=B
Tuesday, 20 September 2011
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