Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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Banks have gorged on the latest helping of free money from the European Central Bank, as they take advantage of their last chance to lock in long-term funding before authorities wind down a three-year-old programme that has had mixed results.
Iceland has finally removed capital controls erected at the height of its crippling banking and economic crisis, in a move that marks the country’s financial rehabilitation and should facilitate easier access to global capital markets for domestic issuers.
European authorities are pushing for a comprehensive clean-up of the €1trn of non-performing loans currently festering on banks’ balance sheets, and a proposal for an asset management company to buy up bad loans is currently gaining traction among officials.