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Zombie Banks: How Broken Banks and Debtor Nations are Crippling the Global Economy by YALMAN ONARAN

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Epilogue

There are several versions of the following cartoon, but this rendition comes closer to the current situation we’re currently in. Two building inspectors inspecting a 60-story high-rise building walk too close to the edge of the roof and fall off. As they’re going down the side of the building, they look at the floors they’re passing and keep telling each other “so far, so good.” That’s exactly what European and U.S. politicians are doing right now as they push the problems down the line with temporary fixes and feel content with how things are going since they haven’t fallen apart completely yet. Unfortunately, one day, they almost always do, judging from the countless examples from history. Three years after Lehman’s fall and the onset ...

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