Europe moves closer to uncovering scale of bank losses

10/13/2013 | Reuters

Eurozone countries are starting to focus on the challenge of paying for the hidden bank losses they are likely to uncover when a new round of examinations gets underway next year. Eurozone finance ministers are meeting in Luxembourg this week to confront the issue. "The effectiveness of this exercise will depend on the availability of necessary arrangements for recapitalizing banks ... including through the provision of a public backstop," European Central Bank President Mario Draghi said Friday.

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