Illustration: Kevin February
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Is there any way out of the gloom infecting Europe’s banking sector?
With the region’s economic prospects this year gradually killing hopes for an end to negative rates and a recovery in their interest margins, the European Central Bank’s rate cut this September only confirmed the challenges ahead. It will be even harder for European banks to earn their cost of equity.
In late 2019, the Stoxx600 index of European banks is stuck in almost the same trough it fell in to in the depths of the eurozone crisis.
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