Bank health still the issue for Europe

Whichever way you look at it, the funding travails of European banks are still the root of our financial problems, writes Éanna Black.

11th December, 2011
Bank health still the issue for Europe
Mario Draghi, ECB president: the cost of funding banks keeps lending rates high, despite cuts. Photo: Bloomberg

I can still hear the phrase from the old ad: "I don't know what a tracker mortgage is." Unfortunately, by the time I finished my fixed rate, a tracker mortgage was a relic of the Celtic tiger era. The banks that issued these European Central Bank interest rate tracking mortgages are now willing to pay borrowers to get them off these products.

These institutions can no longer fund themselves at even close to the ECB...

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