Commentary: Europe must own up to banking issues

06/1/2009 | Financial Times (free content)

George Osborne, UK shadow chancellor, argues that the European banking sector needs to boost transparency and take responsibility for its problems. "Europe's priority should be a coordinated response to the danger posed by so-called zombie banks," Osborne writes. He also says stress tests being conducted on European banks should follow those done in the US, and the results should be publicly disclosed.

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