Banks hiding huge losses, warns IMF chief

“Large losses remain concealed 50 per cent of total losses are perhaps still hidden in the banks’ books,” Strauss-Kahn told the daily Le Figaro on Wednesday.
 “The proportion is greater in Europe than in the United States.”

Although Kahn noted that the financial crisis has been “more or less brought under control,” he nevertheless warned that “there will not be strong and health economic growth if without a complete clean-up of banks’ accounts.”

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