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Europe's EUR 500 Billion Ticking NPLTime Bomb

Europe's non-performing loan problem is such an issue that there is increasing bluster that the ECB may take this garbage on to its balance sheet since policymakers realize that bad debts and non-performing loans (NPLs) reduce the capacity of banks to lend, hindering the monetary policy transmission mechanism. Bad debts consume capital and make ban [...] Read more ...

via Zerohedge
18 May 2013

Mafia boss gives himself up

This week the boss of one of southern Italy's most powerful mafia dynasties sensationally handed himself in to police after three years on the run - and now faces 16 years in jail. The BBC was inside the police station as it happened. Read more ...

via Bbc
18 May 2013