Citing two people familiar with the matter, Reuters reports that the European Central Bank (ECB) officials are reportedly drafting a plan to deal with potentially hundreds of billions of euros of unpaid loans in the wake of the coronavirus outbreak.
One of the people familiar with the plan said, “the ECB had set up a task force to look at the idea of a “bad bank” to warehouse unpaid euro debt and that work on the scheme had accelerated in recent weeks.”
more to come ….
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