According to JP Morgan’s study which appeared in L’Echo, financial institutions need 53 billion euro to pay off their debts. To confirm to the recommendations of Basel 2, financial institutions have to come up with 78 billion dollar, or 53 billion euro. This deficit is a global problem because we are talking about financial institutions in whole Europe; Germany, Ireland, France even Belgium. KBC Belgium needs 2.2 billion euro to be free of their debts, what JP Morgan can see happen in a period of 2 years.
Hannah Merki
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confirm to --> comply with
the whole of Europe
what --> which
Wanted; 53 billion euro
According to JP Morgan’s study which appeared in L’Echo, financial institutions need 53 billion euro to pay off their debts.
To comply with to the recommendations of Basel 2, financial institutions have to come up with 78 billion dollar, or 53 billion euro. This deficit is a global problem because we are talking about financial institutions in the whole Europe; Germany, Ireland, France even Belgium. KBC Belgium needs 2.2 billion euro to be free of their debts, which JP Morgan can see happen in a period of 2 years.
Hannah Merki
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