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| Economy |
| EU banks bad loans worth about 1 trillion euros-IMF |
| 2015-09-25 |
| h/t Gates of Vienna European banks' bad loans have increased to about 1 trillion euros, more than double their level in 2009, the International Monetary Fund (IMF) said on Thursday. The IMF said levels of non-performing loans (NPLs) in the euro area had risen to 932 billion euros at the end of 2014, or about 9 percent of the region's gross domestic product (GDP). High levels of NPLs are limiting credit supply and holding up funds that could otherwise be used for lending. "The levels are particularly high in the south of the euro area," the IMF said. It added that a reduction of bad loans was crucial to help revive credit supply, above all for small and medium-sized companies that are more reliant on banks for financing. |
| Posted by:g(r)omgoru |
| #5 Just print some more money to cover the bad loans; that'll fix it... |
| Posted by: Raj 2015-09-25 13:56 |
| #4 "In other news, Germany was granted a repossession order for Italy for nonpayment. Field Marshall Albert Kesselring could not be reached for comment." |
| Posted by: ed in texas 2015-09-25 12:38 |
| #3 Does that include Greece, which has been doing what it thinks of as its best? |
| Posted by: trailing wife 2015-09-25 10:52 |
| #2 And Bambi (piss be upon him) will insist the American taxpayers (of which he's guaranteeing there will be fewer every year) have to bail them out. >:-( |
| Posted by: Barbara 2015-09-25 10:00 |
| #1 This will end well. |
| Posted by: DarthVader 2015-09-25 08:55 |