Insolvencies could jeopardise EU recovery – ESRB report
ESRB calls on governments and banks to plan a smooth phasing-out of support measures
A wave of corporate insolvencies could endanger Europe’s financial stability as governments start withdrawing support measures, a report from the European Systemic Risk Board warns.
The ESRB report calls on governments and banks to start drafting plans for a smooth transition once the pandemic is brought under control. The report, published on April 28, acknowledges the pandemic has not yet increased the level of insolvencies and non-performing loans ratios in Europe.
But it says this is
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