13 Jan 2014
EU's Dijsselbloem: European banks to fully regain health by the end of 2014
FXstreet.com (Łódź) - Eurogroup president Jeroen Dijsselbloem told Bloomberg Television today that Europe's financial institutions are expected to regain health by the end of the year, as they make efforts to repair their balance sheets, in preparation for ECB's taking over as bank supervisor.
“The banks are now already, in advance, dealing with their problems: taking losses where necessary, finding new funding, strengthening their balance sheets,” Dijsselbloem stressed. “They’re not waiting for the actions of the ECB. Banks are going ahead and getting their act together, which will help strengthen the economic recovery in the euro zone.”
The ECB is set to kick off its role as the Eurozone banking supervisor in November this year, as part of the banking union project.
“The banks are now already, in advance, dealing with their problems: taking losses where necessary, finding new funding, strengthening their balance sheets,” Dijsselbloem stressed. “They’re not waiting for the actions of the ECB. Banks are going ahead and getting their act together, which will help strengthen the economic recovery in the euro zone.”
The ECB is set to kick off its role as the Eurozone banking supervisor in November this year, as part of the banking union project.