Bloom or Wither? Revolutionise or Rationalise?
By Rennos Ioannides*
It doesn’t seem likely that the non-performing loans (NPLs) stock will be worked down to manageable, and economically sustainable, levels any time soon through conventional and rationalised management. It doesn’t seem at all likely, either, that large portions of debt can be sold off at prices that would not jeopardise the banks’ solvency, at least for the foreseeable future.
Pressures are mounting and they will continue to do so.
The slow improvement in the reduction of NPLs, has...