The European Union should create a publicly-funded asset management company to sweep up the bad loans choking economic growth, the bloc's banking watchdog said on Monday (30 January).
The European Banking Authority (EBA) said dealing with the non-performing loans was "urgent and actionable".
The EBA's chairman, Andrea Enria, said in Luxembourg that there needs to be a market created for bad loans, which could push up their price.
The asset management company, acting as a b...
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Already a member? Login hereEszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.
Eszter Zalan is a Hungarian journalist who worked for Brussels-based news portal EUobserver specialising in European politics, focusing on populism and Brexit.