European Union leaders and the ECB sought to calm market jitters by presenting a united front on the banking sector on Friday, saying EU lenders are well capitalised and liquid thanks to lessons drawn after the 2008 Lehman Brothers collapse.
knocked by worries that actions by regulators and central banks have yet to contain the worst problems to face the sector since the 2008 financial crisis.
"The euro area banking sector is strong because we have applied the regulatory reforms agreed internationally after the Global Financial Crisis to all of them," Lagarde said, adding that the ECB's "toolkit" was fully equipped to provide liquidity to the system if needed. French President Emmanuel Macron also told reporters that the normalisation of interest rates was not a threat to the banking system.
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