BRUSSELS — Germany's chancellor said Wednesday that she would support a Europe-wide plan to recapitalize banks if such a move was deemed necessary.
"If there is a common view that banks aren't sufficiently capitalized for the current market condition" a financial firewall should be built, Angela Merkel said in Brussels after a meeting with European Commission President Jose Manuel Barroso.
The International Monetary Fund has called on Europe to put up billions of euros to recapitalize its biggest banks. Franco-Belgian bank Dexia SA is near collapse on worries it cannot withstand losses on the weak debt of some eurozone governments.
Merkel said "common guidelines" on the right amount of capitalization were necessary, adding that this needed to be done urgently.
- 2 cops in New York City ambushed, fatally...
- The Associated Press' top 10 movies of the year
- Police boss: NYC cops 'quite simply,...
- NYPD: Cop ambush killer told passers-by to watch
- 9 films advance in Oscars shortlist for best...
- 'Hobbit' goes out on top with $90.6 million...
- What people never mention when they talk...
- Christmas 1914: The day even WWI showed humanity
- Obama: US re-establishing diplomatic... 49
- Vermont governor abandons single-payer... 32
- A post-election flurry: Obama tests his... 16
- Police boss: NYC cops 'quite simply,... 16
- Forget Santa Claus, Virginia. Was there... 16
- Sony cancels 'The Interview' Dec. 25... 15
- NYC premiere of Rogen film 'The... 8
- Utah mourners for Pakistani children... 8