Just when European banks need to inspire confidence more than ever.
NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus.
The benefit of NIRP: There’s hell to pay – even the ECB admits it.
Just bumping along the bottom, from hopeless to hope and back to hopeless.
Bottom fishers were taken out the back and shot.
After much lobbying, guidelines for banks become “non-binding expectations,” says the ECB.