Another €187 billion will vanish over the next couple of weeks, the always-optimistic European Central Bank predicted.
Banks in the euro-zone will write off that much before the end of the year, the ECB reports. That's about one-third of the total of €553 billion in write-downs predicted between 2007 and next year. Oh, and that estimate is €65 billion higher than the one made by the ECB six months ago.
Is now a good time to remind everyone that the recession is over?
Euro-area banks may see $269 billion in write-offs [MarketWatch]