WARNING: European Central Bank Propping Up EU’s ‘Zombie Banks will DESTROY Europe

• WARNING: European Central Bank Propping Up EU’s ‘Zombie Banks will DESTROY Europe
  by JON ROGERS, http://www.express.co.uk/
  EUROPE’S economy is fundamentally flawed with the European Central Bank (ECB) keeping alive “zombie” companies and banks, the head of a German economic think tank has warned.
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  The Institute for Economic Research (IFO) in Munich has revealed that the economies across the European Union (EU) are still being hindered by the large amount of “zombie” economies – those companies and banks that are in difficulties but are being kept alive by toxic loans and debts.
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  President of the IFO Clemens Fuest said: “The problem of zombie companies and banks is still serious. Especially in Greece, Italy and Portugal, the proportion of bad loans in bank balances is still far too high.”
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  According to a recent study by the Bank of America, some nine per cent of the largest exchange-traded companies in Europe are currently such undead companies.
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