A SOLUTION must be found to reopen Cypriot banks within days before it is “too late”, one of Europe’s top bankers warned yesterday, saying he feared the island’s problems risked knocking confidence across the region.
“Everything needs to be solved very quickly. This is a matter of a very few days before it gets too late,” Christian Clausen, president of lobby group the European Banking Federation told Reuters in an interview.
“Speed is extremely important,” said Clausen, who is also chief executive of Nordea Group, the Nordic region’s biggest lender.
Clausen’s comments were echoed by Hung Tran, deputy managing director of the Institute of International Finance, a global bank lobby group.Read More