Select a language
According to the French economic daily, the subprime crisis “is not a dead letter.” In fact, it has —
… left a bill that banks, European states, and thus taxpayers, will have to pay off over several decades.
Six years after the outbreak of the crisis, “more than €1trn of dubious or illiquid assets remain in “bad banks”. For example, at the end of March 2013, the Dexia “bad bank” still held €266bn of toxic assets, which it will take the Franco-Belgian institution “63 years to liquidate.”
For the Les Echos columnist, this amounts to —
… a formal refutation for all of those who insist that the crisis is behind us.
Do you like our work?
Help multilingual European journalism to thrive, without ads or paywalls. Your one-off or regular support will keep our newsroom independent. Thank you!
