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“State intervention to provide equity and liquidity has fully achieved its objectives. Given the changing environment and strong performance of BNP Paribas, this support is no longer required” Baudouin Prot, BNP Paribas |
The IMF’s Global Financial Stability report, published during its annual meetings in Istanbul in October, states that European banks have been slower to take their lumps in this crisis than the US banks which, in aggregate, have already recognized 60% of their cumulative losses.
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