# Prof. Viral Acharya's research on European banks is highlighted

1 Faculty News February 18, 2014 ![The New York Times Logo](/sites/default/files/styles/246w/public/assets/images/uat_027320.jpg?itok=W8xBr66g)>

Excerpt from [The New York Times](http://www.nytimes.com/2014/02/18/opinion/a-test-europes-banks-mustnt-fail.html) -- "Europe needs a credible plan to rehabilitate its banks. The most direct way would be for the governments of the euro zone to pool resources and issue the same ultimatum America did: Raise more capital or our governments will invest in your banks in ways that will benefit taxpayers and disadvantage your shareholders. The economists [Viral V. Acharya](http://www.stern.nyu.edu/faculty/bio/viral-acharya) and Sascha Steffen have estimated that the capital backstop needed could exceed 500 billion euros."

[Read more](http://www.nytimes.com/2014/02/18/opinion/a-test-europes-banks-mustnt-fail.html)