One after the other, the Eurozone's banks are trying to overcome the burden of their exposure to the sovereign Mediterranean debt. But the task is not at all easy and, in doing so, they are finding themselves either without capital or in dire straits concerning liquidity.

Whenever a bank announces that it is to write off a large percentage of its Greek debt holdings, a move that usually wipes out all or at least a good part of its profits, stock markets go crazy, sending shares to pr...

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