The stock market is flashing ever-stronger orange about the health of Europe’s banks. Yet the regulatory community tells us good news about its capital strength – despite unsustainably low profitability. Fingers crossed for a muddle through!
The looming banking crisis in Italy spells trouble not just for Europe’s fourth largest economy, but also for the EU and an already sputtering global economy, writes Jacob Shapiro for Geopolitical Futures .
One of the factors that sparked the financial crisis in 2008 were the so-called Basel banking requirements, argues Stefano Micossi, and the EU should get its act together to heal these illnesses within the banking legislation.
While the Irish must understand the constraints imposed by the bailout package, the EU also bears some responsibility for the banking crisis and should not undermine Ireland's economic model, writes former Taoiseach John Bruton.
The euro crisis is not only a currency crisis but also a political crisis, writes George Soros in the below commentary, arguing that member states' policies often reflect their views rather than their true interests.
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