Bloomberg News

Europe Can’t Withstand Bank System Crisis: Finland’s Katainen

October 11, 2011

Oct. 11 (Bloomberg) -- Europe can’t withstand another crisis in the banking system, Finland’s Prime Minister Jyrki Katainen said in an e-mailed statement of comments to be made in parliament today.

Europe must act to protect countries and “fundamentally solid banks” from serious risks of contagion, Katainen said. “Finland and Europe couldn’t withstand another banking system crisis nor the plunge of new countries into the vortex of the financial crisis.”

Countries that lost the confidence of markets can earn it back by responsible fiscal policies, he said.

To contact the editor responsible for this story: Kati Pohjanpalo at kpohjanpalo@bloomberg.net


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