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SocGen CEO: Europe Banks Could Absorb Greek Debt Restructuring
PARIS (Dow Jones)--The European banking sector would be able to absorb a potential restructuring of Greece's sovereign debt, Societe Generale SA's (GLE.FR) Chief Executive Frederic Oudea said Monday on CNBC television.
But he said this was unlikely to happen in the near future, adding that the priority for the Greek government is "to put the house in order."
Referring to the stress tests that European lenders are currently undergoing, the results of which will be published in June, Oudea said some of the smaller banks may need to raise more capital, unlike large banks, which have taken steps to strengthen their balance sheets.
He also said that while Societe Generale "has absolutely no issue in terms of liquidity," smaller banks in peripheral euro-zone countries may face liquidity problems.
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PARIS (Dow Jones)--The European banking sector would be able to absorb a potential restructuring of Greece's sovereign debt, Societe Generale SA's (GLE.FR) Chief Executive Frederic Oudea said Monday on CNBC television.
But he said this was unlikely to happen in the near future, adding that the priority for the Greek government is "to put the house in order."
Referring to the stress tests that European lenders are currently undergoing, the results of which will be published in June, Oudea said some of the smaller banks may need to raise more capital, unlike large banks, which have taken steps to strengthen their balance sheets.
He also said that while Societe Generale "has absolutely no issue in terms of liquidity," smaller banks in peripheral euro-zone countries may face liquidity problems.
***
Tutti pronti ad assorbire perdite senza problema ...
