{"id":14858,"date":"2015-11-28T08:22:23","date_gmt":"2015-11-28T13:22:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=14858"},"modified":"2015-11-28T08:22:38","modified_gmt":"2015-11-28T13:22:38","slug":"europes-banks-are-still-drowning-in-bad-loans","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=14858","title":{"rendered":"Europe\u2019s Banks Are Still Drowning in Bad Loans"},"content":{"rendered":"
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Europe\u2019s Banks Are Still Drowning in Bad Loans\u00a0<\/a><\/h3>\n<\/div>\n
A \u201cMajor Concern\u201d<\/strong><\/div>\n
\n

The European Banking Authority EBA, which (we guess) is fighting for its survival after the ECB has become the sole supervisor of Europe\u2019s \u201csystemically relevant\u201d banks, has recently issued a comprehensive report on the European banking system (this included the unintended revelation that its employees have\u00a0yet to master the intricacies of Exel<\/a>).<\/p>\n

As an aside, we have little doubt that this bureaucracy\u00a0will<\/em>\u00a0survive. Has there ever been a case of an EU bureaucracy not surviving and thriving? We don\u2019t recall one off the cuff, but perhaps we are mistaken. We\u2019re sure\u00a0some<\/em>\u00a0reason will be found to preserve this particular zombie sinecure as well.<\/p>\n

\"eba_2\"Hey guys! We\u2019re still issuing reports! See how important it is to keep us well-funded?<\/p>\n

Among the things the EBA\u2019s report apprises us of, is that European banks continue to be submerged in bad loans, in spite of all the bailouts and extend & pretend schemes that have been implemented in recent years. As\u00a0Reuters reports<\/a>:<\/p>\n

\u201cThe scale of bad loans held by banks in the European Union is \u201ca major concern\u201d and more than double the level in the United States, despite an improvement in recent years, the EU\u2019s banking regulator said on Tuesday.<\/em><\/strong><\/p>\n

Non-performing loans (NPL) across Europe\u2019s major banks averaged 5.6 percent at the end of June, down from 6.1 percent at the start of the year. But that compares with an average of less than 3 percent in the United States and even lower in Asia, according to the European Banking Authority (EBA).<\/p>\n

The total of NPLs across Europe is about 1 trillion euros ($1.1 trillion), equivalent to the size of Spain\u2019s annual gross domestic product (GDP) and 7.3 percent of the EU\u2019s GDP.<\/em><\/strong><\/p><\/blockquote>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Europe\u2019s Banks Are Still Drowning in Bad Loans\u00a0 A \u201cMajor Concern\u201d The European Banking Authority EBA, which (we guess) is fighting for its survival after the ECB has become the sole supervisor of Europe\u2019s \u201csystemically relevant\u201d banks, has recently issued a comprehensive report on the European banking system (this included the unintended revelation that its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,2015,63,10787,233,279,281,10786,282,284,6559,6170,683],"class_list":["post-14858","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-bailout","tag-banks","tag-eba","tag-ecb","tag-eu","tag-europe","tag-european-banking-authority","tag-european-central-bank","tag-european-union","tag-non-performing-loans","tag-pater-tenebrarum","tag-reuters"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14858"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14858\/revisions"}],"predecessor-version":[{"id":14859,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/14858\/revisions\/14859"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}