Eurozone Banks Are in DEEP Trouble: Wall Street Top Bankers Issue Warning to EU
- Eurozone Banks Are in DEEP Trouble: Wall Street Top Bankers Issue Warning to EU
by LANA CLEMENTS, http://www.express.co.uk/
EUROPE’s biggest banks are vulnerable and pose a huge risk to financial stability, according to some of Wall Street’s top bankers.
Financial heavyweights from the US and Switzerland joined forces to sound the alarm over Deutsche Bank and its peers. Goldman Sachs’ president Gary Cohn hit out at eurozone banks for failing to clean-up their balance sheets after the financial crisis.
Speaking at the Institute of International Finance, the chief said the US banking sector was “in the best shape ever,” reported the Financial Times. And then added: “Other [parts of the world] provided cheap financing to their banks to allow them to earn their way out of the crisis and hoped that asset prices would recover. “What we are seeing today is that approach isn’t necessarily working.”
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