Bloomberg News

Carney Says Some Europe Banks May Need Capital in Coming Weeks

September 25, 2011

Sept. 25 (Bloomberg) -- European banks need to move quickly to shore up their capital, Bank of Canada Governor Mark Carney said.

“Their banking system, it’s undercapitalized,” Carney said in a televised interview with CTV News. “That may require some injections, direct injections of capital to those banks in the coming weeks.”

Carney also reiterated that Europe’s monetary union has “flaws” that need to be fixed, and said 1 trillion euros ($1.35 trillion) may be needed to stem investor concerns about the sovereign-debt crisis.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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