Europe News
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Swiss National Bank President Thomas Jordan said a panel of government officials is considering measures such as capital controls to weaken the franc should the euro crisis escalate.
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The European Union will seek to give regulators the power to impose writedowns on senior unsecured creditors at failing banks as part of measures to prevent taxpayers from footing the bill for saving crisis-hit lenders.
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The Bankia group, the lender Spain nationalized this month, will seek 19 billion euros ($23.8 billion) of state funds, as it set aside provisions for residential mortgages and lending to companies.
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The Swiss National Bank may introduce measures in addition to the franc ceiling of 1.20 per euro adopted in September, if it comes to further shocks on the currency markets, NZZ am Sonntag reported, citing SNB spokesman Walter Meier.
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