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Finance ministers to take decisive action: European banks

BRUSSELS : Europe 's banks urged the region's finance ministers on Friday to commit to stronger governance and budget d
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By Muhammad Iqbal
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swaerBRUSSELS: Europe's banks urged the region's finance ministers on Friday to commit to stronger governance and budget discipline to restore market confidence.

"Europe's banks urge European finance ministers at their meeting in Poland on Sept. 16 and 17 to make clear commitments for stronger governance and budgetary discipline in the European Union," the European Banking Federation said in a statement.

"Now is the time for clarity and decisive action. We need a clear and united signal from finance ministers, central bankers and the ECB so that markets can regain confidence," it continued.

European Union ministers were meeting informally in Poland on Friday and Saturday.

Copyright Reuters, 2011

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