There may be need for stricter financial monitoring worldwide, but in Europe in particular, US-style bank bailouts are not necessary at this stage, EU officials told MEPs on Wednesday (24 September).
Recent events in the financial sector are hurting the economy, as they are "of a magnitude that exceeds anything we have seen in our lifetime," EU economy commissioner Joaquin Almunia said.
However, referring to the recent decision by the US to buy $700 billion (€476 billion) of bad d...
Back our independent journalism by becoming a supporting member
Already a member? Login here