Etienne Davignon

This page is completely dedicated to what Etienne Davignon has to say. All of Etienne Davignon’s quotes are organized here by date and topic. The most recent quote attributed to Etienne Davignon came from an article called Moves to reassure investors: “The US banks thought they could grow by 10% to 15%, year after year, and so they had to come up with products that were more and more sophisticated, to be able to produce that level of profits. The situation for the European banks wasn't the same. The European banks got hit because they bought into those US products, but that kind of activity was not a big part of their business. They are more high street banks, commercial banks and private banks. But there are a number of European banks now with insufficient funds, which has undermined public confidence in those banks.”.

Etienne Davignon quotes

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The US banks thought they could grow by 10% to 15%, year after year, and so they had to come up with products that were more and more sophisticated, to be able to produce that level of profits. The situation for the European banks wasn't the same. The European banks got hit because they bought into those US products, but that kind of activity was not a big part of their business. They are more high street banks, commercial banks and private banks. But there are a number of European banks now with insufficient funds, which has undermined public confidence in those banks.

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