“The liquidity crisis there is real,” Sarkozy said today in an interview on Bloomberg television at a Bloomberg Link conference in New York. “The government response is more complex and complicated. As a result, there is a chance there will be major implications for major financial players in Europe.”
Banks are shedding assets as a way to raise capital, an opportunity that Sarkozy said he would like to capitalize on.
“The thing that interests us is there seems to be more supply than there will be capital to meet that supply,” said Sarkozy, based in New York and half-brother of French President Nicolas Sarkozy. “We feel as if we will be in a position to buy smartly, and, hopefully, with a little focus, we will turn them around and make them worth more over time.”