Europe’s big banks will be forced to find €108bn of fresh capital over the next six to nine months under a deal to strengthen the banking system that is to be unveiled by European Union leaders.
After 10 hours of talks in Brussels on Saturday, finance ministers from all 27 EU member states endorsed an estimate of the sector’s capital shortfall that is significantly higher than initial calculations. But strong reservations from southern European countries, who will have to find the lion’s share of the money, have delayed a
full announcement until Wednesday, when the
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