Crisis to force banks to switch direction
Crisis will force banks to switch direction and test their risk management and restructuring abilities under real stressful circumstances, not simulated ones, Gabriel Jeflea, director with UniCredit Tiriac Bank on December 9 said during the conference ``How is growth to be financed in 2009?''
European investment banks are in ``crisis mode'' as they struggle with a declining revenue pool, tough funding conditions and increasing political pressure, UBS AG analysts said in a report.