EU’s Kroes: Bankruptcy cannot be excluded as an option for some banks

EU antitrust chief Neelie Kroes says that banks bailed out by EU governments should downsize and return to their core business.

Kroes doesn’t want to see any banks go under but warned that bankruptcy could not be totally ruled out as a potential outcome.

Ummm, the word bankruptcy is certainly going to help wash away a little of that warm fuzzy feeling we had only moments ago. No surprise to see EUR/USD trade a little lower, presently at 1.3255.