herald

Thursday 24 August 2017

EU banks warning

EUROPE must complete its plan to create a banking union, improve stress testing of banks and separate bank and sovereign risk to overcome the sovereign debt and bank crisis, the IMF said.

In an assessment of the EU's financial sector, the IMF, headed by Christine Lagarde, right, said the bloc needed to complete the process without delay.

"The crisis reveals that handling financial system problems at the national level has been costly, calling for a Europe-wide approach," it said.

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