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IMF: „Banks and Companies in a Vicious Circle“

Politics ♦ Published: October 11, 2013; 20:32 ♦ (Vindobona)

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Not only Greece, Spain or Portugal are struggling with a financially stricken banking sector. In Southeastern Europe, the situation is quite similar.

IMF: „Banks and Companies in a Vicious Circle“ / Picture: © Vindobona.org

The IMF warns of a vicious circle in Europe. Particularly in Southern and Southeastern Europe, the banking sector suffers from a high level of non-performing loans.

In some countries of Southeastern Europe, there is a similar pattern. In the boom period from 1998 to 2008, Croatia and Slovenia did not improve the competiveness of its industry. By contrast, the countries have…