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Bank recapitalisation the order of the day
Over the weekend, the emergence of a concrete plan to recapitalise European banks gained greater momentum. The French and German leaders pledged that a plan will be in place within three weeks, ready for the G20 summit early in November. While in 2008, nation states were able to deal with their own banking issues, it is not necessarily the case this time around and Germany’s ‘no bailout’ stance is likely to be tested even further. Today potential losses are greater, the risks of contagion are far bigger and public finances are in a much more precarious state (for most). Meanwhile, Belgian Bank ... (full story)