Portier, Jean, Sanfilippo, Luca, (2015), “Reviving Credit in the Euro Area”, IMF direct, 23 Νοεμβρίου
A stock in excess of €900 billion of nonperforming loans continue to clutter the European banking system, impeding economic growth. This issue remains a key challenge for policy makers. As we show in our latest Global Financial Stability Report,part of the solution to address this legacy is an upgrade in legal systems. Current inefficiencies—long foreclosure times and insolvency procedures—are a reason for the gap between the value of loans on bank balance sheets and the price investors are willing to pay.
Σχετικές Αναρτήσεις
- Merler, Silvia, (2015), ” Squaring the cycle: capital flows, financial cycles, and macro-prudential policy in the euro area”, Bruegel Publications, Νοέμβριος.
- Decressin, Jörg, Espinoza, Raphael, Halikias, Ioannis, Leigh, Daniel, Loungani, Prakash, Medas, Paulo, Mursula, Susanna, Schindler, Martin, Spilimbergo, Antonio, Xu,TengTeng, (2015), “Wage Moderation in Crises-Policy Considerations and Applications to the Euro Area”, IMF, Νοέμβριος.