German Zombie Banks
German zombie banks? So says Yalman Onaran in Bloomberg: “European Bank Regulator Imperiled by German Zombie Banks” – also available at BusinessWeek. Sadly, the word “zombie” only appears in the title and nowhere else in the article. Meanwhile, Onaran also has a book available entitled “Zombie Banks”:
Zombie banking has become standard operating procedure for big debtor nations. They prop up failing institutions, print money, and avoid financial corrections. But in an attempt to prolong the inevitable, bigger problems are created. The approach used now has not, and will not, work. This timely book reveals why.
Yalman Onaran’s Zombie Banks tells the story of how debtor nations and failing institutions are damaging the long-term prospects of the global economy.
So here’s Zombie German Finance Minister Wolfgang Schaeuble:
Also related to German economics, recall “Zombie Economics Debate between Albrecht Ritschl and Hans-Werner Sinn”
– CORRECTION –
Yalman Onaran’s article does mention “zombie banks” in the article body. Not sure how I missed that (I swear I used ‘find’ but maybe I mistyped somehow). Onaran quoted Peter Tchir, founder of New York-based TF Market Advisors:
“Germany is the creator of zombie banks and has been protecting its zombies against the EBA or other EU institutions that have tried to dismantle them,”
Sincere apologies to Mr. Onaran and thanks for his pointing out my error via Twitter
Also note that TF Market Advisors is a hedge fund advisor and see also my next subsequent highly related post on Zombie Hedge Funds
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