A few noteworthy events have led European banking to reach a proverbial point of no return. It’s no wonder that investors are running out of patience with European bank chieftains. Since the unfortunate fall of Lehman Brothers in 2008, eight of Europe’s biggest banks (including Deutsche Bank) have had to layoff around 100,000 employees, pay billions in legal penalties, and lose almost half a trillion in market value. As for the root cause of the banking industry’s troubles – the costs of complexity – this will need to be thoroughly re-assessed in the face of the ongoing nightmare that torments Europe’s banks.
To read more, click here.