Jun
11

Making Bank

The key problem holding Europe back isn’t high interest rates, it’s the weak condition of their banks and thus their unwillingness to lend. Exacerbating the problem is that in Europe banks are the basically the only source for money and as a result, they hold 80% of financial assets. Here, by contrast, banks hold just 30% of financial assets because growing firms tap pension plans and insurance companies for financing.

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