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It is a race against time to put measures into place to save the Euro, says Giles Keating, Managing Director of the Private Banking Division at the Credit Suisse, based in Zurich. At the European Alternative Investment Funds Conference in Luxembourg, organised by ALFI, the local fund industry association, he praised the efforts of the European Central Bank. Nevertheless, he acknowledged that banks in the Eurozone are under pressure.
Giles Keating is not talking about regulatory requirements on how to raise more capital, but about the growing pace of money withdrawal from the Eurozone banks. It is not just German banks not lending to Italian or Greek banks, it is also international depositors like mutual funds that no longer review their very large...
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