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.
“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