IMF Concerned About Banking Sector Disturbances

Pierre-Olivier Gourinchas, a senior economist at the International Monetary Fund, stated that "the Fund remains concerned about the disturbances witnessed in the banking sector recently, despite the actions taken by the U.S. and Swiss authorities to address their distressed banks." He noted that "EU banks are not insulated from problems as long as the bloc has not advanced in completing the mechanisms that have been discussed for a long time to handle distressed banks."