The Chair of the single supervisory board within the ECB, Andrea Enria, is convinced that the economic crisis caused by the Covid-19 pandemic — a symmetrical macroeconomic shock external to the European Union — requires “a European initiative” to enable the banking sector to cope with the likely wave of non-performing loans.
Referring to his op-ed published by the Financial Times the day before, on Tuesday 27 October, he detailed the advantages of setting up an asset management...