Europe’s Biggest Banks Get EU234 Bln Implicit Subsidy, Soir Says

Europe’s ’’too-big-to-fail’’ banks received an implicit government subsidy of EU234 billion, Le Soir reports, citing a study by the IMF, the OECD and the Bank of England to be published today. * Study calculates gain to banks from promise of government intervention; estimates are ’’imperfect,’’ Le Soir says * Deutsche Bank estimated subsidy of EU27.6 bln in 2012; generates benefit of EU290 mln, Le Soir says, citing study * BNP Paribas estimated subsidy of EU21.42 bln in 2012; generates benefit of EU6.6 bln * ING estimated subsidy of EU3.17 bln in 2012; generates benefit of EU3.9 bln * Link to story (in French): http://goo.gl/biXqe2

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