EUObserver:Bank drain threat hangs over eastern Europe

With large parts of their banking sector in French, Austrian or Greek hands, eastern European countries are wary that upcoming rules on bank recapitalisation will allow regional subsidiaries to be drained of money, putting their economies at risk. "We cannot accept a recapitalisation through money withdrawal, for instance from the Romanian market, in order to withstand the crises within the eurozone," Romanian President Traian Basescu said on Sunday (23 October) after the first part of an EU ...

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