Rutte: ‘European banking system is resilient’

- Advertisement -spot_imgspot_img
Rutte: ‘European banking system is resilient’

While various European banks are being hit hard on the stock market, Prime Minister Mark Rutte is trying to keep the peace. He calls the European banking system ‘resilient’ and, according to him, supervision is ‘strong’. According to Rutte, it is therefore very unlikely that the eurozone will end up in a new banking crisis.

Rutte made his statements after the EU summit in Brussels. In their final statement, the EU leaders emphasized the strength and resilience of the banking system in the European Union and how much better the liquidity positions of banks are: ‘The banking union has significantly improved the resilience of the banking system.’

To comfort

That conclusion follows a long series of bankers, analysts and economists who tried to reassure everyone earlier this week amid the great unrest in the financial markets. According to Klaas Knot, president of De Nederlandsche Bank, there is ‘no reason at all for a bank run’ in the Netherlands and the current banking crisis will not spread to Dutch banks. Just today, the head of the German central bank emphasized that the current banking unrest cannot be compared to the situation in 2008, when a global financial crisis broke out.

On the other hand, there were also experts who warned this week about some major risks in the banking sector, such as supervisors falling asleep and that banks are growing bigger than ever, and are therefore again ‘too big to fail’.

While various European banks are being hit hard on the stock market, Prime Minister Mark Rutte is trying to keep the peace. He calls the European banking system ‘resilient’ and, according to him, supervision is ‘strong’. According to Rutte, it is therefore very unlikely that the eurozone will end up in a new banking crisis. (ANP / ANP)

- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img