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Euro, Stocks Soar On FT Report EU "Looks To Swift Recap" Of European Banks
And right on cue, just like 2 weeks ago when the FT "broke" the news that China was about to bailout Europe (all over again), here they come again, reporting that the EU is "looking to [sic] swift recapitalzation of 16 banks." From the FT: :European officials look set to speed up plans to recapitalise the 16 banks that came close to failing last summer’s pan-EU stress tests as part of a co-ordinated effort to reassure the markets about the strength of the 27-nation bloc’s banking sector. A senior French official said the 16 banks regarded to be close to the threshold would now have to seek new funds immediately. ... (full story)
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DragonFire
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