Five years on since the global financial crisis first erupted,
the reverberations have scarcely diminished.
While European nations wrestle endlessly with the future of
monetary union, the continent's banks continue to struggle as
the region's relentless debt crisis, along with more exacting
regulatory demands, weigh ever more heavily on balance
A sharp withdrawal of credit by US and European lenders in
2008 brought the financial system to a grinding halt - and
helped trigger a global recession. Reminders of those dark days
resurfaced last year at the height of the eurozone crisis, when
bank funding strains once again sparked fears of forced asset
sales, frozen credit and sharply weaker economic activity.
The most acute fears may have receded for now, but a more
insidious process is nevertheless firmly under way:...
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