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MNI BRIEF: Lagarde Tells EuCo Leaders Eurozone Banks Resilient


ECB President Christine Lagarde told EU leaders today that the Euro Area banking sector is resilient, according to EU sources, underpinned by "strong capital and liquidity positions”.

Lagarde said the euro area banking sector is strong "because we have applied the regulatory reforms agreed internationally after the Global Financial Crisis to all of them,” the sources noted.

President Lagarde also called for the completion of banking Union and capital markets union. She confirmed her recent position that there is no trade-off between price stability and financial stability, and the ECB's toolbox "enables us to address risks to both”. On financial stability, she told the leaders that the ECB toolkit is fully equipped to provide liquidity to the euro area financial system, if needed.

MNI London Bureau | +44 203-865-3812 |
MNI London Bureau | +44 203-865-3812 |

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