Vitor Constancio, vice president of the European Central Bank, says financial tension has eased in the euro zone, but the banking system needs to become stronger because risk remains. "Financial stability has improved but remains fragile ... due to weak growth and banking-sector vulnerabilities," Constancio said. "There is this disconnect between the significant improvements in financial markets in general and the real economy -- and the situation in the real economy is affecting banks. So this is a cause of concern."

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