The eurozone's banks are in urgent need of extra capital if the bloc is to stabilise its fragile economic recovery, according to research by a leading economic thinktank.
"Euro area banks are insufficiently capitalised and weighed down by bad loans" was the assessment of the Paris-based Organisation for Economic Co-operation and Development (OECD) in its 'Interim economic forecasts' published Tuesday (3 September).
It added that "measures are required to ensure the credibility of...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.