The European Commission will make proposals to member states of the 27-strong union on recapitalizing banks, a Commission spokesman said on Thursday.
“Proposals will be tabled regarding co-ordinating action. Proposals will be made to member states, and when the time comes, when they have been finalized, they will be announced,” the spokesman told a regular briefing.
European Commission President Jose Manuel Barroso said earlier in the day that co-ordinated action to recapitalize banks could help in dealing with “toxic assets”.
Mr. Barroso’s comments were the most explicit yet from a top EU official on co-ordinated action to help restore confidence in a banking sector that is increasingly shunned by investors as a result of the euro zone debt crisisReport Typo/Error
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