Ministers thrash out details of recapitalising the banks

FINANCE ministers from all 27 EU countries spent Saturday thrashing out the issue of recapitalising the bloc’s major banks, but there will be no final decision until they meet again on Wednesday.

The assessments were carried out over the past few weeks with banks asked to indicate what sovereign debt they were holding.

They agreed on a method to assess how much each of the 90 major banks would need to add to their Core Tier 1 capital, assuming they need to reach 9% overall.