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EU to propose bank recapitalisation
Economics

EU to propose bank recapitalisation

14.03.2012 From our online archive
The president of the EU's executive arm says he will unveil proposals on how to make European banks fit enough to sustain the worsening debt crisis on Wednesday.

(AP) The president of the EU's executive arm says he will unveil proposals on how to make European banks fit enough to sustain the worsening debt crisis on Wednesday.

Jose Manuel Barroso said on Tuesday that the European Commission would unveil several initiatives that should contribute to a "comprehensive response" to the eurozone's debt troubles.

Barroso said a plan to recapitalise European banks would be part of those proposals.

Fears that Greece and other highly indebted countries may default on their debts have hit banks in recent months.

Barroso did not give details on the recapitalisation plans.

He was speaking in The Hague following a meeting with Dutch prime minister Mark Rutte.