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(Reuters) EU countries wrangle over recapitalising banks

Posted on October 23, 2011 by Kendall Harmon

EU ministers were wrangling on Saturday over bolstering their banks, with some officials saying broad agreement was nearing but others warning that Spain, Italy and Portugal were objecting because of concerns over the costs involved.

“There is 24 against three – Italy, Spain and Portugal,” said one euro zone diplomat. “They think it’s too expensive. They don’t want to pay it.”

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Posted in * Economics, Politics, * International News & Commentary, --European Sovereign Debt Crisis of 2010, Credit Markets, Currency Markets, Economy, Euro, Europe, European Central Bank, Foreign Relations, Greece, Italy, Politics in General, Portugal, Spain, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--