If banks were to undergo a recession and mark to market their holdings of bonds issued by Greece, Ireland, Portugal, Spain and Italy, they would need more than €300 billion in capital (see chart).Banks have several options for boosting their capital ratios.
The warning comes amid striking evidence that "austerity Britain" is undergoing a nutritional recession, with rising food prices and shrinking incomes driving up consumption of fatty foods and reducing the amount of fruit and vegetables we buy.
In a speech to the European Parliament this week, Olli Rehn, the European commissioner for economic affairs, was also uncharacteristically upbeat when he said: "Even if Europe is undergoing a mild recession for now, we can see signs of stabilization.
Louisiana's seem to be undergoing a natural recession at the moment, so "it's hard to say what the man-made impact is, superimposed over the tremendous variation that exists naturally," said Thomas Soniat, a biology professor at the University of New Orleans.
Even if we do get a little lucky and avoid a formal economic recession, there is no question in my mind that we are in the process of undergoing an earnings recession.
Although it was paid for by private donations, some from the private Knapp Foundation, the purchase generated quite a controversy, for it was ordered at a time when the nation was undergoing an economic recession.
He calculated there was an 83.0% chance of the euro area undergoing a "full-blown recession" in 2009, as opposed to staying flat as the Commission predicts.
However, the Uruguayan education system (particularly the secondary and tertiary levels) is currently undergoing a phase of stagnation and recession.
Spain is undergoing a severe economic downturn and recession perhaps more acute than that of other European countries of the so-called periphery.
But when the real estate market collapsed in the early 1990's and Japan underwent a recession, Touko lost the properties and its $41 million investment.
