Borges Says EU Officials Working on Bank-Recapitalization Plan

Antonio Borges, the International Monetary Fund’s European department head, said European Union authorities are working together on a plan to recapitalize the banking sector.

“We would recommend that it move to a European approach,” Borges said at a press conference in Brussels today. “More should be done on a cross-border basis.”

To contact the reporter on this story: Rebecca Christie in Brussels at rchristie4@bloomberg.net

To contact the editor responsible for this story: Jones Hayden at jhayden1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.