Oct. 27 (Bloomberg) -- Dutch Banking Association Chairman Boele Staal said he’s “pessimistic” after the European Union summit as no agreements were reached on solving the issue of government debts, “the cause” of the crisis.
The agreements are a “firm minimum in response to a symptom,” he said in an interview with Dutch radio today.
Europe’s requirement for banks to have core Tier 1 capital equal to at least 9 percent of assets after writedowns on sovereign debt is a “considerable step,” Staal said, adding there are no concerns on the capital position of Dutch banks.
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