ECB Warns Write-Downs Could Reach $239 Billion

http://online.wsj.com/article/SB10001424052748703406604575278620471963334.html

In the latest indication that European banks are in ill health, the European Central Bank warned late Monday that euro-zone banks face €195 billion ($239.26 billion) in write-downs this year and the next due to an economic outlook that remained "clouded by uncertainty."