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DJ ECB Papadia: Peripheral Banks Need "Visible" Sovereign Improvement

Dow Jones Newswires

15 Jun 2011

Mark Brown

BRUSSELS, Jun 15, 2011 (Dow Jones Commodities News via Comtex) -- Banks from the euro-zone's so-called peripheral countries would struggle to issue debt until the situation of sovereigns "visibly improves," the head of market operations at the European Central Bank said Wednesday.

Francesco Papadia also said the financial crisis has shown the complex links between different debt markets including sovereign debt and bank debt.

Papadia was speaking at a two-day Global ABS conference in Brussels hosted by the Association for Financial Markets in Europe and conference organizer Information Management Network.