The turmoil hitting the markets and sharp plunge in banking stocks is sparking concern among the euro zone’s finance ministers but the president of the group told CNBC that there was no immediate threat of a repeat of the financial crisis.
“Well there is concern (about market volatility), but we also realize we are in a much better situation than we were 10 years ago. Both governments’ budgets and the real economy are picking up throughout the euro zone,” Eurogroup President Jeroen Dijsselbloem told CNBC on Thursday.
“And our banks are in a much better situation than they were some years ago, a lot of capital has been brought in, balance sheets have been restructured and this process is still continuing with the new rules of the banking union in place,” he added.
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