Photo Gallery: The Need for European Bank Reform
Andreu Dalmau / Pool/ picture alliance / dpa
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Photo Gallery: The Need for European Bank Reform

The EU's Black Holes Saving the Euro Will Require Banking Sector Reform

As concerns about Spanish banks grow, leading economists are warning that Europe's banking system urgently needs to be overhauled, otherwise the entire monetary union could be in jeopardy. The continent's leaders missed their chance to reform the system in the wake of the 2008 financial crisis, and are now paying the price.
Translated from the German by Paul Cohen