Bloomberg News

Almunia Says Debt Crisis Puts Euro Area Under ‘Severe Stress’

October 04, 2011

Oct. 4 (Bloomberg) -- The debt crisis has put the euro area under “severe stress,” Joaquin Almunia, the European Union’s antitrust commissioner, said today.

Almunia repeated that further bank restructuring measures may be needed for banks in the EU.

“We cannot exclude that this number could grow in the near future,” he said in prepared remarks for an event in Brussels today.

To contact the editor responsible for this story: Peter Chapman at pchapman10@bloomberg.net


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