The financial crisis continues to leave its mark on European banks. And as yet, there are no apparent business solutions in sight. US institutions though are doing better, reporting high levels of assets.
Economist Steve Keen specializes in researching how private and public debt mountains arise and generate financial crises. In an interview with DW, he explains how the ECB could solve the problem — but probably won't.
The German lender has beaten analysts' expectations for third-quarter profit and has settled another case of its financial crisis wrongdoings. But meagre revenues show the bank is far from being out of the woods.
Britain's central bank has done what it avoided doing for the past 10 years. It's hiked interest rates to curb inflation caused by a steep drop in the pound's value. But the marginal rise is of a rather symbolic nature.
The European Central Bank has announced a cut in its bond-buying economic stimulus program, taking its biggest step yet towards unwinding years of loose monetary policy introduced in the wake of the financial crisis.
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