Reuters - Video

Edition: US | UK | IN | CN | JP

Video

Europe Day Ahead: Banking system needs urgent fix

Tuesday, April 02, 2013 - 01:43

As policy makers ponder what action to take to boost Europe's economies Paul Donovan of UBS says it's much more important to fix the region's broken banking system.

▲ Hide Transcript

View Transcript

Because I'll look ahead to Wednesday's key political and financial events the Bank of England begins its two day policy meeting. Ahead about a chance to see if government lending incentives to boost the economy of bearing fruits. The bank's credit conditions survey will take the pulse of the funding for lending scheme. It's being criticized for having little impact on small and medium sized businesses. Some bad news though for Britain's construction industry data Vermont's like to show a slight improvement. We construction output was the main drag on growth lost yet pushing the country back into recession. Inflation in the Euro zone is likely to continue to for even as unemployment rises. Some economists say falling inflation gives these he'd be an easy excuse account rates. Paul Donovan at UBS says these -- these big get tossed -- to fix your broken by the system. The banking system just is not working. In economic times the money transmission mechanism is broke them. I -- it's fairly serious. In a capitalist system. You can like them the banking system to under system. In in human being. If the banking system isn't working then capitalism effectively is paralyzed. Italian bond yields expected to rise as politicians struggled -- form of government present Giorgio Napolitano has appointed a ten strong winds man panel. And experts to help find a way out of the deadlocked. He's ruled -- standing down to make way for new parliamentary elections. I thought it ahead to Wednesday catch up with the latest news and views from the world of business and finance and Reuters today every weeknight eight bsc. And that's the trouble is it forces.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Europe Day Ahead: Banking system needs urgent fix

Tuesday, April 02, 2013 - 01:43