"European banks need extra bns of euros to survive"

European banks need an extra 114.7bn euros (£97.7bn) to survive the eurozone debt crisis, the region's banking authority has said.

The European Banking Authority said the overall shortfall, including an emergency capital buffer, is 13.1bn euros (£11.1bn) for German banks and 7.3bn euros (£6.2bn) for French banks.
Meanwhile in Spain, the shortfall comes to 26.2bn euros (£22.3bn) and 15.4bn euros (£13.1bn) for those in Italy.
The banks now need to raise that capital and have until January 20 to present their plans - and until mid-June to complete them.
It comes as the European Central Bank said it would offer cheaper loans for banks struggling amid the financial crisis.
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