Euro Group President and Irish Finance Minister Paschal Donohoe stated that they evaluated the latest developments in the US banking system and said that the bankruptcy of the Silicon Valley Bank (SVB) in the USA did not have a direct impact on European banks.
Release:
Donohoe made statements after the meeting of the finance ministers of the European Union (EU) member countries that use the euro currency in Brussels.
“We discussed the collapse of the SVB in the US.” said Donohoe, emphasizing that they are following this situation carefully.
Donohoe stated that the problem stems from SVB’s unique business model and that the situation in Europe is very different.
“GOOD CONDITION”
Noting that banks in EU countries have been strengthened, strictly supervised and the Basel framework has been implemented in recent years, Donohoe said, “Our banks are in good condition in general.” said.
Donohoe stated that EU banks do not have open positions against the SVB and will not be directly affected by the risks.
After the bankruptcy of SVB and Signature Bank in the US, concerns about the global banking sector increased. (AA)
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