The underdevelopment of secondary debt markets also impedes non-performing loan resolution in most of the countries surveyed. Specific obstacles in the legal and regulatory framework appear to be the cause of such a market stagnation, " she said at an event at the Bruegel institute in Brussels yesterday. Meanwhile, European Central Bank vice-president Victor Constance called for the creation of government-backed bad banks - similar to Lama - to help buy some of the €1 trillion in problem loans weighing down neuron
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