25-05-2020 15:11 via uk.finance.yahoo.com

EU must present united front to shield pandemic-hit banks - regulator

European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc's top regulators said on Monday, potentially using a 500 billion euro ($545 billion) EU recovery fund to do so.The remarks from Jose Manuel Campa, who leads the European Banking Authority (EBA), will rekindle a divisive debate about whether rich countries such as Germany should support banks of poorer neighbours such as Italy.Campa made his comments days after German Chancellor Angela Merk
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