Daily News: June 7, 2012

Geithner, Bernanke Concerned About EU Banks


Bloomberg reported that U.S. Treasury Secretary Timothy F. Geithner and Federal Reserve Chairman Ben S. Bernanke are concerned about the European banking industry, Finnish Prime Minister Jyrki Katainen said after meeting the two U.S. officials.

Bloomberg said that in a telephone interview, Katainen commented, “They were very worried about what was going on.” According to Bloomberg, Katainen said he discussed with Geithner and Bernanke the options for recapitalizing banks in trouble.

European Union leaders, including European Central Bank president Mario Draghi and European Commission president Jose Barroso, have called for a banking union with more coordination of regulation, as lawmakers seek to bolster confidence damaged by the debt turmoil, Bloomberg noted.

To read the full Bloomberg story, click here.