The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal...

The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal...

Europe’s banking system is weighed down by high levels of non-performing loans (NPLs), which are holding down credit growth and economic activity. This discussion note uses a new survey of European country authorities and banks to examine the structural obstacles that discourage banks from...