‘Concerns’ About Markets, Banks Sell-Off: Dijsselbloem

The turmoil hitting the markets and sharp plunge in banking stocks is sparking concern among the euro zone’s finance ministers but the president of the group told CNBC that there was no immediate threat of a repeat of the financial crisis.

“Well there is concern (about market volatility), but we also realize we are in a much better situation than we were 10 years ago. Both governments’ budgets and the real economy are picking up throughout the euro zone,” Eurogroup President Jeroen Dijsselbloem told CNBC on Thursday.

“And our banks are in a much better situation than they were some years ago, a lot of capital has been brought in, balance sheets have been restructured and this process is still continuing with the new rules of the banking union in place,” he added.

CNBC

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.