Dark clouds are gathering around Europe’s banking sector.
Europe’s bank index has posted its longest weekly string of losses since 2008
European banks have been caught in a perfect storm of market turmoil, lately.
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“The current environment for European banks is very, very bad. Over a full business cycle, I think it’s very questionable whether banks on average are able to cover their cost of equity. And as a result that makes it an unattractive investment for long-term investors,” warned Peter Garnry, head of equity strategy at Saxo Bank. Continue reading
Global Geopolitics 