ECB Capitulates On Defusing Eurozone's "$1 Trillion Ticking Time Bomb"

In late 2017, the ECB surprised central bank watchers, briefly spooked markets, and angered many Italians, with its plan to eradicate what many have dubbed the "ticking time-bomb" at the heart of the Eurozone, namely the roughly $1 trillion (a number which likely is materially higher as banks have been caught misrepresenting it in recent months) in non-performing loans across European banks.