Trying to get rid of non-performing loans (NPLs) in
Europe is akin to digging a hole with a spoon – an
already painstakingly drawn out process that's made even longer
by the lack of adequate tools to deal with the problem.
The European Central Bank (ECB) announced earlier this month
it was consulting on a number of new rules which aim to get rid
of bad debt in the region by mandating banks to set aside
enough collateral to cover the value of the NPLs.
The proposed new rules – which, make no mistake,
the ECB will expect banks to...