Dividend suspensions have brought about a series of questions about how banks have slowly started to work as extensions of EU-States.
The European Central Bank (ECB) extended its recommendation for
European banks to withhold the payment of dividends until, at least, 1
January 2021.
This might seem like a logical step in the middle of one of the
biggest crisis of the century, in an attempt to keep the force of
financial establishments expected to absorb the losses caused by the
inevitable recession and finance the economic relaunch of Europe
intact. This measure, however, has also brought about a series of
questions about how banks have slowly started to work as extensions of
EU-States.
For starters, it raises the question whether these measures are not
the first step towards the nationalisation the banks and financial
enterprises throughout Europe.
Click here for the original article (in French) by Financial analyst François Vidal from Les Echos
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