Editorial: Lagarde's recapitalisation idea is sound:

08/30/2011 | Wall Street Journal, The

European leaders and market participants are criticising a suggestion from International Monetary Fund Managing Director Christine Lagarde that banks "need urgent recapitalisation". Banks' lending to debtor nations is the problem, according to this Wall Street Journal editorial. "The main reason that the specter of an unruly default keeps policy makers up at night is its likely consequences for Europe's banks, whose balance sheets hold some 45% of Europe's government bonds."

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