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Wilbur Ross: Pan-European Insurance Deposit System Needed
Posted by: Dheeraj Grover (IP Logged)
Date: June 18, 2012 09:34AM
Wilbur Ross of WL Ross & Co says the euro zone needs a Pan-European insurance deposit system regulated by the European Union.
He thinks that when people are assured that their deposits are safe it will prevent bank runs and that will keep the system stable.
He also commented on the U.S. banking system which he thinks is in far better and more stable condition. Banks have raised much more capital, have more deposits than loans and are much more strongly regulated, ensuring that the U.S. banking system is more stable now.
Where is he investing? Bank of Ireland (IRE).
Here is the video:
Guru Discussed: Wilbur Ross: Current Portfolio, Stock Picks
Stocks Discussed: IRE, FXE,