Press Release: European Bank Co-ordination Initiative – Full Forum Meeting

As agreed during the first “Full Forum” meeting in Brussels in September 2009, the second “Full Forum” meeting of the European Bank Coordination Initiative took place in Athens, Greece on 18-19 March 2010. At the conclusion of the meeting, the organizers issued the following statement:
The European Bank Coordination (“Vienna”) Initiative, launched at the height of the global financial crisis in January 2009, has been a success and can now broaden its scope to support the region’s return to a sustainable growth path. While maintaining parent bank engagement, this will focus on remaining challenges, including excessive reliance on external financing, weak credit growth and large exposures in foreign exchange.