International Monetary Fund urges banking plan for Europe
NBC News — European banks may need as much as 266 billion dollars to recapitalize. The amount was revealed by the International Monetary Fund today at a press conference.
The head of the IMF operations in Europe also said that the continent also needed to put in place a comprehensive banking plan. The news comes as the IMF is working on a second bailout package for Greece. The package is needed in order to prevent the country from defaulting on its debt.