Unlike the Fed the ECB Leaves Euro Area Banks Unprepared for the Downswing

Gunther Schnabl and Thomas Stratmann Ten years after the outbreak of the global financial crisis, banks in the euro area have not recovered. The Euro Stoxx Financials is 65% below the pre-crisis peak, whereas the S&P Financials has come close to the pre-crisis level.  The different fate of financial institutions is due to different monetary … Continue reading Unlike the Fed the ECB Leaves Euro Area Banks Unprepared for the Downswing