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EU works on bank capital, Geithner sees crisis risk
European Union moves to shore up ailing banks moved into higher gear on Thursday and U.S. Treasury Secretary Timothy Geithner warned that the euro zone's sovereign debt crisis posed "significant risk" to global economic recovery. The EU's executive arm said it would present a plan for member states to coordinate a recapitalization of their banks, as regulators met in London to reassess the capital buffers of stressed lenders that received a clean bill of health in July. The European Central Bank threw a lifeline to commercial banks by turning up its liquidity pumps to provide longer-term cheap money for the growing ... (full story)
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