After all, the principle of subsidiarity, which remains the guiding principle of the EU, states that responsibilities should only be transferred from the local, regional or national level to the EU if they can be carried out more efficiently there. If tasks are tackled jointly, then it stands to reason that they should be financed jointly as well.
Most are expecting that loan losses will peak later this year, as the bottoming of the housing market becomes clearer and the economic recovery takes firmer hold. And a few bankers are beginning to report renewed competition for new loans.