Jho says it ain’t so
Punishing original sin
Tuesday, November 6, 2012
by Louise Bowman
support and widespread use of cheap
LTRO money from the ECB have certainly delayed the
day of reckoning for many German banks. And the
contrast between the loan portfolio sale market in
Germany and that of other high-NPL jurisdictions such
as the UK, Ireland and Spain is striking. However,
federal largesse is not infinite and sales must come.
As banks in the UK, Ireland and Spain accelerate their
disposals of non-core loan portfolios, one European
country is conspicuous by its absence
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