In the financial world, debt is king. And, with an ever increasing financialization of many aspects of our lives, debt is becoming more, not less, important.
The increasing importance of debt, of course, makes it a connecting point with economic growth.
In this line of thought, one can reasonably ask – Could non-performing loans in Europe be the next trigger behind a global financial meltdown?
Loans that Don’t Get Paid Back (Non-Performing Loans)
Presuming that the influence of debt isn’t going away, here’s a look at countries where banks have at 6.6% of their total loan balances classified as non-performing.
[drizzle]
The list is fascinating if you’re somewhere like Russia, which has very little...
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