Tags: french | minister | bank | Baroin | finance

French Minister Insists Banks Are Solid

Thursday, 15 September 2011 09:52 AM EDT

France's finance minister says that French banks are solid and do not need to be recapitalized despite being heavily exposed to Greece's debts.

Francois Baroin said on France-Info radio Thursday that leading French banks brought in billions in profits this year and "are companies that do no need recapitalization."

He says the banks aren't having difficulty with access to liquidity and said markets should have confidence in the their "reinforcement strategies."

Moody's downgraded the credit ratings of French banks Societe Generale and Credit Agricole on Wednesday amid huge volatility in the markets as investors worry about their exposure to Greece's debts.

Baroin also stresses Franco-German support for Greece as it tries to contain its debt crisis and stay in the eurozone.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
France's finance minister says that French banks are solid and do not need to be recapitalized despite being heavily exposed to Greece's debts. Francois Baroin said on France-Info radio Thursday that leading French banks brought in billions in profits this year and are...
french,minister,bank,Baroin,finance
121
2011-52-15
Thursday, 15 September 2011 09:52 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved