Aug 29 (Source: Reuters By Jan Strupczewski and Edward Taylor) – Europe gave a cool reception to a demand from the International Monetary Fund’s new head Christine Lagarde to force its banks to bulk up their capital, saying the continent had done enough already.Europeran The European Commission said there was no need to recapitalise the banks over and above what had been agreed after an annual “stress test” check of their ability to withstand economic and financial market headwinds.

“I don’t think so. This discussion has already taken place between the EU and the IMF, and the IMF is well aware of the results and the follow-up decided after the stress-tests,” Commission spokesman Amadeu Altafaj said.

Source: Reuters By Jan Strupczewski and Edward Taylor

Mon Aug 29, 2011 7:28am EDT

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