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France's Sapin Says European Upswing Not Sufficient Amid Potential Risks 

September 23, 2016

Andrea Thomas, NASDAQ

French Finance and Economics Minister Michel Sapin said Friday that the eurozone is enjoying an economic upswing, but higher growth levels would be better amid the potential risks stemming from the U.K.'s decision to leave the European Union and a possible slowdown in China.

"The upswing in Europe is real, but not sufficient," Mr. Sapin said at a joint news conference of the finance and economic ministers and central bank heads of Germany and France in Berlin. "We must make use of Europe's advantages and abilities to strengthen growth."

In this context, Mr. Sapin said the officials had expressed concerns about tighter bank capital requirement rules, known as Basel III, that could hurt the economy.

"We need a banking sector that's serving the real economy. We must strengthen investments everywhere in Europe," he said. "We wish that the developments won't result in capital requirements for banks to be increased further. Read more



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