Government recapitalisation of the banking industry continues apace.
Another option would be the direct recapitalisation of banks by the euro zone.
The recapitalisation of bust banks, as in Spain, would remain the responsibility of national governments.
"The second important issue for today is the recapitalisation of European banks.
And the British government is considering a massive national recapitalisation of the banking sector.
Second, the eurozone agreed a direct recapitalisation of Spain's failing banks.
One of the provisions of the agreement with creditors is setting aside €25bn for the recapitalisation of the country's banks.
Talk of a co-ordinated recapitalisation of European banks sparked a rally in markets around the world on October 4th.
A 270 billion yuan ($33 billion) recapitalisation of the big four state banks a year ago was far from adequate.
And the recapitalisation of Greek banks – a touch-and-go issue barely a month ago – has gone unexpectedly well.
"The recapitalisation of EMI by Citi is an extremely positive step for the company," said Faxon, chief executive of EMI.
