Verhofstadt Urges European Approach to Bank Recapitalizations

Oct. 17 (Bloomberg) -- Former Belgian Prime Minister Guy Verhofstadt urged a European approach to recapitalizing banks in order to restore confidence in Europe’s banking industry.

“We obviously need a European approach,” Verhofstadt said today in a Bloomberg Television interview. Policy makers should “create the same rules and the same environment for all banks in Europe, smaller and bigger banks. That is necessary to create confidence between the financial institutions in Europe,” he said.

To contact the reporter on this story: Maryam Nemazee in London at mnemazee@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net