Europe's banking fragility needs urgent attention
Europe's banks are so fragile that measures must be implemented within the next 12 months, a paper by Adam Posen and Nicolas Veron, two economists at the Peterson Institute for International Economics, posits.
The research notes that Europe's current banking problem must be tackled on a cross-border basis because only centralised balance-sheet assessment and stress testing can effectively restore trust, and the high risk of cross-border bank insolvency requires a supranational approach to crisis
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