Portugal Gaining On Italy In The European Banking “Doom Loop”

Monday, August 15, 2016
By Paul Martin

by Benn Steil and Emma Smith via CFR,
Aug 15, 2016

Portugal’s doom loop metric has soared over the past two years. Portuguese banks have been gorging on Portuguese sovereign debt, taking it from 7 percent of total assets to 10 percent – the same level as Spain. If they continuing loading up at this pace, they will reach Italian levels by 2018.

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