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Expect the "Practically Virtually Impossible"

MishTalk

The collapse of Spanish housing left the banking system with as much as 51 billion euros of deferred tax assets(DTAs), mostly from 2011, that can be used against future profits for as long as 18 years. Multimillion dollar losses banks have generated billions in tax credits in just two years.

Banking 64
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What Has the Eurozone Learned from the Financial Crisis?

Harvard Business

The answer to those questions is threefold: Central Bank choices. Federal Reserve and the European Central Bank followed broadly similar policies in reaction to the crisis, lowering interest rates and injecting liquidity. economy are asking whether we learned enough from the 2008 crisis about how to manage risk in the financial system.