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Eurozone Banks in Denial About Bad Loans

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Some euro zone banks are “in denial” about their problems with unpaid loans, the European Central Bank’s chief supervisor has told a Finnish weekly.

“In all euro area countries, there are … banks that are not doing so well but are committed — and bravely so — to tackling their problems; and then others that are somewhat in denial and will have to change to improve,” Daniele Nouy told Talouselämä in an interview published on Friday.

She was responding to questions about a request for public help by Italy’s Monte dei Paschi di Siena and apparent failures to clean up the banking sector in that country and in Germany.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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