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EU steps up efforts to deal with bad debts of more than one trillion euros

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Valdis Dombrovskis, the European commissioner in charge of financial services, says his office will help coordinate a European strategy on non-performing loans among the 28 member states.

Brussels

EUROPEAN Union leaders are stepping up efforts to deal with the more than one trillion euros (S$1.49 trillion) in non-performing debt weighing down the bloc's lenders.

The Maltese government, which holds the rotating presidency of the EU, called for action to prevent the...

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