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ECB says European banks still vulnerable

Fri, 12/10/2010 - 06:48 by Prince damin

Frankfurt, Germany -- The European Central Bank said Thursday banks in Europe remain vulnerable due to sovereign debt issues, but they are healthier than six months ago.

In a biannual report on Europe's banks, the ECB said, "The overall economic and financial situation is still fraught with risks for financial stability.

"The main source of concern stems from the interplay between sovereign debt problems and vulnerabilities in segments of the euro area banking sector," the central bank said.

Economic growth, however, "is expected to further strengthen its (the banking sector's) resilience and profitability in the period ahead," the ECB said.

Signs of stability in the U.S. auto market

Thu, 07/02/2009 - 18:00 by Jamie Anderson

New York, July 2: Finally a reason to cheer for the U.S. auto industry that has been reeling under the severe economic recession.