How resilient are the largest banks of the eurozone? We looked at their balance sheets and recent stress test results in great detail. What we have found out is not reassuring.
The coronavirus pandemic struck Europe completely unprepared. The old continent ignored the key lesson that Asian countries like South Korea, Singapore, or Hong Kong learned when dealing with SARS in 2003: You better be prepared.
When a new virus spreads, it is all important to act as fast and as determined as you possibly can. The same lesson applies when your banking system is collapsing.