Salem Radio Network News Monday, June 5, 2023


EU leaders grapple with bank risks as economy weakens


( ) -q-30- UNDATED (Correspondent Jeremy House) “20 European countries.”

European Union leaders are gauging the risk of a banking crisis developing from recent global financial turmoil and hitting an already weak economy.

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TAG: Correspondent Jeremy House reporting. Belgian Prime Minister Alexander De Croo told reporters that “for the moment, we see no reason to be worried.”

VERBATIM: The deliberations by E-U government heads in Brussels follow U.S. regulators shutting down two U.S. banks and a Swiss-orchestrated takeover of troubled lender Credit Suisse by rival UBS. The emergency actions on both sides of the Atlantic revived memories of the 2008 global financial meltdown and the ensuing EU sovereign debt crisis. The incidents almost broke apart the euro currency now shared by 20 European countries.

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