EU Banks Need $166 Billion, Deutsche Bank Economist Tells Welt
- Europe needs the bailout fund to recapitalize its banks
- David Folkerts-Landau told Welt Europe was "extremely sick"
What's Driving the Spotlight on European Banks?
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Europe urgently needs a 150 billion-euro ($166 billion) bailout fund to recapitalize its beleaguered banks, particularly those in Italy, Deutsche Bank AG’s chief economist said in an interview with Welt am Sonntag.
"Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident," Deutsche Bank’s David Folkerts-Landau said, according to the newspaper. "I’m no doomsday prophet, I am a realist."