EU plans coordinated action to recapitalise banks

European commission

European leaders look set to take coordinated action to stabilise Europe's financial sector after they agreed additional steps would be needed to bolster their banks.

In comments made to a journalist and confirmed by the European Commission, European Union (EU) Economic and Monetary Affairs Commissioner Olli Rehn said there was "a sense of urgency" and an increasing realisation among euro area ministers over the need to coordinate action to recapitalise the euro area banking sector.

"Capital pos

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