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​​Eurozone banks should merge, write off more bad loans, IMF says

( June 16, 2016, 18:21 GMT | Official Statement) -- MLex Summary: Euro-area banks should merge to improve profitability and write-off more bad loans to improve their ability to lend, International Monetary Fund staff said in a review of the economy in the 19 countries sharing the currency. The authority also called for the governments to unify their deposit-insurance funds while harmonizing more banking and bankruptcy laws. Capital requirements for government-bond holdings should be raised gradually in tandem with global standards, the IMF statement added.Statement follows below:...

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