The Progressive Zombification Of Europe's Banks

Zero Hedge -

Zero Hedge—Authored by Gunther Schnabl and Thomas Stratmann via The Mises Institute, Ten years after the outbreak of the global financial crisis, banks in the euro area have not recovered. The Euro Stoxx Financials is only 40% above its March 2009 low, well below its pre-crisis level (Fig. 1). By contrast, the S&P Financials index in the US has risen by 320%. The different fates of European and US financial institutions could be due to the different monetary and regulatory crisis therapies of the...

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