ECB raises estimate on bank writedowns

The European Central Bank increased to more than €550bn December 2009 its estimate of writedowns eurozone banks could have suffered by the end of 2010. The bank also issued a further blunt warning to Greece on the urgency of bringing its ­public finances back under control.

ECB: Press Release, 18.12.09: Financial Stability Review December 2009 http://www.ecb.int/press/pr/date/2009/html/pr091218.en.html

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