CNNMoney: At European banks, the fire sale continues

CNNMoney: RT @FortuneMagazine: At European banks, the fire sale continues. Hedge funds are willing to take a gamble http://t.co/J4auEuUm
Original Tweet: http://twitter.com/CNNMoney/status/146238707505176577

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At European banks, the fire sale continues
December 9, 2011: 11:39 AM ET

Big European banks, under pressure to sell assets and shrink their balance sheets, won a victory in the latest deal to save the euro. But they still have a long way to go.

By Cyrus Sanati, contributor

FORTUNE -- Even as European leaders convened this week an emergency summit to save the euro, European banks were busy trying to offload trillions of euros worth of assets in a bid to slim down. But while the banks may appear desperate to sell in order to fortify their balance sheets and comply with new capital restrictions, they don't seem willing to take a bath on their performing assets just yet, frustrating willing buyers hunting for an easy deal.

Fortune: Europe's sickly banks

Europe's sickly banks
By Colin Barr June 20, 2011: 6:30 AM ET

You could knock Europe's banks over with a feather.

WSJ: ECB Raises Interest Rates

ECONOMY|APRIL 7, 2011, 5:15 P.M. ET
ECB Raises Interest Rates

By BRIAN BLACKSTONE

FRANKFURT—The European Central Bank raised interest rates for the first time in nearly three years Thursday, but sought to reassure investors that it won't embark on a rapid-fire series of increases that could disrupt fragile economies in parts of the euro bloc.