| BRUSSELS
BRUSSELS An external early warning system for companies at risk of insolvency is central to a European Commission’s draft proposal to cut the region’s bankruptcy problem and help banks recoup bad loans.
Non-performing loans (NPLs) on the euro zone’s main lenders’ balance sheets neared 1 trillion euros (£0.86 trillion) last year, about 9 percent of the bloc’s gross domestic product, hitting banks’ ability to make money on corporate lending.
EU data shows corporate insolvencies spiked after the 2007-08 financial crisis and are still much higher than before, with half of new firms not surviving their first five years, pushing up unemployment rates in still weak economi…
Read the full article at: http://uk.reuters.com/article/uk-eu-business-bankruptcy-idUKKCN1251PH
