Bloomberg News

Koschyk Says EFSF Only a Last Resort for Bank Recapitalization

October 24, 2011

Oct. 24 (Bloomberg) -- German Deputy Finance Minister Hartmut Koschyk said the enhanced European Financial Stability Facility can only help recapitalize banks after lenders have tried to recapitalize themselves and if governments struggle to provide aid if they can’t.

Recapitalization with EFSF funds, through euro member governments, requires memoranda of understanding, Koschyk said in a speech in Berlin today.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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