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“The problems arise from the specific business model of the Silicon Valley Bank. And the picture here in Europe is very different. Our banks are overall in good shape,” Donohoe told a news conference after talks of euro zone finance ministers.
“We have strengthened them enormously in recent years, and they are under the close supervision of national and European authorities and the Basel framework is being applied to all EU banks. There is no direct exposure, therefore, to Silicon Valley Bank,” he said.
