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

To contact the editor responsible for this story: Jones Hayden at

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