Sunday, November 6, 2016

Zombie allusions - They Just keep on coming™: "...all but insolvent save for government support."

Renee Bonorchis, (c) 2016, Bloomberg(c) 2016, Bloomberg
"Zombie banks, a term coined by Edward J. Kane of Boston College in 1987, are typically all but insolvent save for government support. They have injured economies from Japan to Europe and now it may be Africa's turn. The continent has been battered by falling commodity prices, an enduring drought, weakening currencies and a slowdown in China, its biggest trading partner. A plethora of lenders edging toward collapse have governments nervous and central banks scrambling to find increasingly scarce liquidity."

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