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Europe’s Zombie Banks

Gros, Daniel, (2013), “Europe’s Zombie Banks”, www.project-syndicate.org, 10 Ιουλίου.

What is wrong with Europe’s banks? The short answer is that the sector is too large, has too little capital, and contains too many players that lack a viable long-term business model. It is the combination of the last two factors – an overabundance of banks with no sustainable way to turn a profit – that constitutes the most serious and most difficult problem.