* * * Since the financial crisis of 2008, the health of the banking sector has become one of the hot topics in public debate. And with good reason, because banks are important for all of us – in good times and in bad. In good times, banks help to finance enterprises which, in turn, drive economic growth and provide employment.
In bad times, banks can threaten the financial system and damage the economy – as we have learned during the recent financial crisis. Against that backdrop, the purpose of my speech today is to do a quick pulse check and see how European banks are doing. European banks – more resilient and less profitable Let us begin by talking about the obvious!