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		</div><p>Wall Street firms warn that the Eurozone banks pose a high risk of financial instability. </p>
<p>Most likely due to the sounding of alarms over Deutsche Bank&#8217;s latest fine, Goldman Sachs&#8217; president Gary Cohn called out the Eurozone banks for failing to resolve their balance sheets after the financial crisis. </p>
<p>When speaking at the Institute of International Finance, Cohn said that the US banks were &#8220;in the best shape ever&#8221;, as reported by the Financial Times.</p>
<p>He then added that, &#8220;Other [parts of the world] provided cheap financing to their banks to allow them to earn their way out of the crisis and hoped that asset prices would recover. </p>
<p>“What we are seeing today is that approach isn’t necessarily working.”</p>
<p>Nigel Vought, global head of financial services at PwC, had a few opinions of his own on the European banking sector.</p>
<p>He said: “Banks need to wake up and start to react, because they are an integral part of society, but they don’t have a divine right to be here … All the banks are trying to switch from an interest rate-based model to a fee-based model.”</p>
<p>The International Monetary Fund have also said the European banking sector, particularly Deutsche Bank, is a risk to the world banking system.</p>
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