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European Stocks Fall Sharply as Debt Fears Hit Banks

Posted By kurtnimmo On September 5, 2011 @ 9:41 am In Economic Crisis,Tile | Comments Disabled

Patrick Allen
CNBC
September 5, 2011

European shares fell sharply on Monday amid renewed fears over the euro zone debt crisis and a warning from Deutsche Bank’s CEO on the outlook for banks.

The DAX [.GDAXI 5263.05 -275.28 (-4.97%) ] led the losers, falling by over 5 percent, while stocks in London and Paris also fell sharply.

The biggest loser in Germany is Deutsche Bank [DB 36.27 -2.33 (-6.04%) ] after CEO Joseph Ackermann told a banking conference that the euro zone debt crisis could kill weak banks and stunt profits for the rest of industry for years to come.

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