The IMF has warned that unless the eurozone resolves its capital crisis, European banks’ balance sheets will contract severely, further damaging growth and pushing unemployment beyond already record highs in the region.
And we thought the IMF was done with all the doom and gloom for a night.
Also from Bloomberg they (IMF) are says European banks may need to sell as much as $4.5 trillion in assets through 2013 if policy makers fall short of pledges from its April estimate.
