'Bad loans' of banks risking credit crunch, warns European commission
by Daniel Boffey in Brussels from on (#5BQJT)
Europe facing post-Covid finance squeeze as indebted businesses crash affecting economy
Banks are loading up with loans that are unlikely to be repaid, teeing up Europe for a post-pandemic credit crunch, the European commission has warned.
As measures were unveiled to avert a freeze in consumer and business lending, the commissioner for financial services, Mairead McGuinness, said bank balance sheets risked being subsumed.
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