Economic jargon-busting guide to 2013
ZOMBIE BANKS: The global financial crisis began as a banking crisis – banks lent too much to people who couldn’t repay it - and the crisis is far from over. A zombie bank is one where its debts exceed its assets. They're essentially bankrupt banks that survive on life support payments from governments. Europe is full of them, as banks struggle to offload or pay down large debts. The world's banking system is far from out of the woods. Watch out, there's zombie banks about.
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