European Banks Would Collapse
Published / Last Updated on 05/09/2011
European Banks Would Collapse.
The chief executive of Deutsche Bank, has warned that numerous European banks would collapse if they had to revalue sovereign debt held on the banking book at market levels. The value of billions of euros of loans has dropped to a level that could cause smaller banks to collapse.
Deutsche Bank's shares closed at €23.79, valuing the company at €21.6bn (£18.9bn).