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Thursday, 11 August 2011

Europe's banks in freefall as fear stalks the markets once again



Fear gripped Europe's banks yesterday as shares in French and Italian lenders dived on concerns they would be crippled by the eurozone crisis.

Société Générale led French banks down as market rumours about its financial position sent its shares tumbling more than 20 per cent during the trading session. SocGen, France's second-biggest bank, was forced to issue a statement denying speculation that it was in trouble. [...]

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