IMF sees European banks facing $4.5 trillion sell-off
The IMF said European banks may need to sell as much as $4.5 trillion in assets during 2013 if policy makers fall short of pledges to stem the fiscal crisis.
The International Monetary Fund said European banks may need to sell as much as $4.5 trillion in assets through 2013 if policy makers fall short of pledges to stem the fiscal crisis, up 18 per cent from its April estimate.
Failure to implement fiscal tightening or set up a single supervisory system in the timing agreed could force 58 European Union banks from UniCredit to Deutsche Bank to shrink assets, the IMF said. That would hurt credit and...
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