Monday, October 10, 2011

Merkel: France, Germany set to recapitalise banks

BERLIN: Germany and France stand ready to recapitalise banks and want to do so according to common criteria, Chancellor Angela Merkel said on Sunday, Oct 9.

"We are determined to do the necessary to secure the recapitalisation of our banks," Merkel said at a joint news conference with French President Nicolas Sarkozy in Berlin.

"Germany and France want the same criteria to be applied, and criteria that are accepted by all sides," she said. "We will ask all relevant authorities ... to check what we are doing is sustainable."

"We are not going into details today, we will present a complete package" for stabilising the euro zone at the end of the month, Merkel added. ' Reuters

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