Brussels, 04/10/2012 (Agence Europe) - EU Internal Market Commissioner Michel Barnier has welcomed the important details about recapitalisation of Europe's banks in the final report by the European Banking Authority (EBA) published on Wednesday 3 October. Barnier said in a press release that financial consolidation boosts banks' capacity to sustainably finance the real economy and, thanks to the EBA's work, it has not led to the deleveraging feared by some. Between December 2011 and June 2012, some €200 billion of extra capital has been injected into Europe's banks, in response to the European Summit's decision in October 2011 to force vulnerable European banks to increase their solvency ratio to 9% of core one capital while ensuring that this did not cause massive deleveraging (see EUROPE 10483). This applied directly to twenty-seven banks, mainly in Greece (€30 billion to be raised), Spain (€26 billion), Italy (€14.8 billion) and France (€8.8 billion). In total, the banks have raised €116 billion, more than the recommended €105 billion. (MB/transl.fl)