Sunday, October 10, 2010

IMF Calls for Huge New Round of Bank Bailouts

"The IMF is calling for a huge new round of bank bailouts.

As the Telegraph noted yesterday:

Lenders across Europe and the US are facing a $4 trillion refinancing hurdle in the coming 24 months and many still need to recapitalise, the Washington-based organisation said in its Global Financial Stability Report. Governments will have to inject fresh equity into banks – particularly in Spain, Germany and the US – as well as prop up their funding structures by extending emergency support..."

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