European Banks Are Caught in `Death Spiral'

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Dec. 8 (Bloomberg) -- Andy Brough, executive director of Schroder Investment Management, talks about European bank capital requirements and the credibility of the financial system. German banks need 13.1 billion euros ($17.5 billion) and Italian banks 15.4 billion euros ($20.5 billion) in core tier 1 capital, the European Banking Authority said in a document. Brough speaks with Andrea Catherwood on Bloomberg Television's "Last Word." (Source: Bloomberg)

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