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Business & Finance

Reuters exclusively reports ECB plots Amazon-style market to prevent Wall Street COVID debt swoop

Reuters exclusively reported that Europe is working on an Amazon-style website to sell hundreds of billions of euros of bank loans which have been soured by the coronavirus crisis, in a bid to shore up the economy and challenge the dominance of big Wall Street debt investors. The blueprint, devised by top European Central Bank (ECB) officials, is part of efforts by the 19-state euro zone to tackle a growing pile of unpaid loans and aims to prevent “distressed debt” funds from buying them at rock bottom prices.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: EconomyEquities
Regions: Europe
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text