No Need for Concern on Europe Banks: EC’s Dombrovskis

European Commission Vice-President Valdis Dombrovskis has moved to reassure jittery investors, claiming Thursday that there was no need to be particularly concerned about the volatility seen in recent weeks in the European banking sector.

European banks have lost about a quarter of their market value since the start of the year and are looking badly bruised as concern over provisions for bad debts and the banks’ exposure to the energy sector loans grows.

Chief executives have been trying hard to reassure investors that there is nothing to fear. Shares in other sectors, such as those in the energy sector and those exposed to China, have sold off globally as falling oil prices and slowing growth in China conspired to make the start of 2016 the worst on record on Wall Street.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
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 Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. 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.