The Executive Vice-President of the European Commission, Valdis Dombrovskis, warned, on Friday 25 September, of the impact that an incomplete European regulatory framework for the management of non-performing loans (NPLs) would have on the banking sector’s ability to cope with the difficulties associated with the economic crisis caused by the Covid-19 pandemic.
“If we fail to act in time, we could see consequences of the last financial crisis repeating themselves and NPLs would rise on...