Banks 'at risk from devaluations'

[Legal Beagles]

A number of Europe's banks would not survive a cut in the value of their sovereign debt holdings, the boss of Deutsche Bank warns.

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[labman]

Re: Banks 'at risk from devaluations'

Is it just me who finds it difficult to find comments like these hard to square with the ongoing saga of bankers' bonuses?



Mr Ackermann said: "It's stating the obvious that many European banks would not survive having to revalue sovereign debt held on the banking book at market levels."
He added that the continuing sovereign debt crisis in the eurozone would limit bank profits for a number of years.
"The outlook for the future growth of revenues is limited by both the current situation and structurally," he said.