The European Central Bank (ECB) will seek to address Europe’s €900bn Non-Performing-Loans challenge (NPLs) one bank at the time.

One bank at the time
Europe's banks have an NPL portfolio that is equivalent to 6-to-7% of the  EU's entire GDP, that is, treble the burden carried by lenders in the United States and Japan.
And there is another difference between the US/Japanese and European banking sectors. The EU does not have either a consolidated financial market or a single banking superviso...

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