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Euro zone, banks show no signs of tension

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Euro zone, banks show no signs of tension
©Reuters. The euro logo in front of the headquarters of the European Central Bank (ECB) in Frankfurt Main, Germany December 6, 2011. REUTERS/Ralph Orlowski

LISBON (Reuters) – Europe’s banking system is showing no signs of the growing financial strains seen outside the euro zone, although it is not completely isolated due to its interconnectedness.

This was stated by the member of the Governing Council of the ECB, Mario Centeno.

“I don’t see these signs (of rising tensions),” he said during a press conference, adding however that the ECB is constantly monitoring financial stability.

Bank stocks are down sharply today, with the European giants Deutsche Bank (ETR:) and UBS hit by fears that regulators and central banks have not yet contained the worst shock to the sector since the 2008 global financial crisis.

(Translated by Chiara Bontacchio, editing Stefano Bernabei)

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