Europe banks aim to reassure investors on €106bn recap

Europe's banks sought to reassure investors that they won't tap them for fresh capital needed under a €106bn recapitalization plan designed to make the sector more-resilient to sovereign shocks

Europe's banks sought to reassure investors Thursday that they won't tap them for fresh capital needed under a €106bn recapitalization plan designed to make the sector more-resilient to sovereign shocks.

Spanish, French and Italian banks need around €50bn in fresh capital under a European Union-wide agreement forged late Wednesday that analysts said was largely inline with market expectations and is part of broader efforts to restore the region's financial health.

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