The Long Shadow of Europe’s Big Banks
ByOver the last year, Europe has been unsettled by several significant challenges, including the inflow of migrants, the conflict in Ukraine and the threat of Greece falling out of the euro.
Perhaps less appreciated is the role that Europe’s largest banks have played in damping the mood on the Continent. And on Thursday, the burden of the big banks was on display.
Deutsche Bank, Germany’s largest lender, announced new efforts to turn around its flagging operations. The contents of the plan were more or less as expected. They included measures like cost-cutting, focusing more on profitable businesses and bolstering capital, the financial buffer that banks have to maintain to protect themselves against losses and shocks…
The Long Shadow of Europe’s Big Banks
