by Don Quijones, Wolf Street:
Only two things keep these banks alive: “a State willing to support them and a regulator that does not declare them insolvent.”
Dozens of Greek, Italian, Spanish and even German lenders have volumes of troubled assets higher or similar to that of Spain’s fallen lender Banco Popular. They, too, are at risk of insolvency. This stark observation came from Bridget Gandy, director of financial institutions for Fitch Ratings, who spoke at a conference in London on Thursday.
The troubled banks include: