Bloomberg News

Merkel Says Germany Ready to Recapitalize Banks if Needed

October 05, 2011

Oct. 5 (Bloomberg) -- Chancellor Angela Merkel said Germany is ready to join any potential move to recapitalize banks if such a step is necessary. Speaking to reporters in Brussels today, Merkel urged the euro-region to commission independent advice to help establish uniform objective criteria whether such recapitalization is necessary.

“Time is running out” to establish whether recapitalization is necessary, she said following talks with EU Commission President Jose Barroso.

To contact the editor responsible for this story: Brian Parkin at bparkin@bloomberg.net


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