Bloomberg News

Asmussen Says Bank Recapitalization Should be Done on EU27 Level

October 10, 2011

Oct. 10 (Bloomberg) -- Joerg Asmussen, nominee for membership of the European Central Bank’s Executive Board, said recapitalization of banks should be done on the basis of the European Union’s 27 member-states to avoid a “stigma effect.”

Recapitalization should be carried out for all systemically-important financial institutions, Asmussen said at a hearing on his candidacy in the European Parliament today.

To contact the reporter on this story: Jim Brunsden in Brussels at jbrunsden@bloomberg.net

To contact the editor responsible for this story: Jeff Black at jblack25@bloomberg.net


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