by the ESRB
More than a year of restrictions on economic activity has so far not resulted in financial instability. However, the threat of a wave of insolvencies looms large, unless Member States manage a smooth transition from liquidity support towards more targeted solvency support and successful corporate debt restructuring for viable firms. This is the key message of today’s ESRB report, which reviews the risks to economic and financial stability of a potential large wave of insolvencies and the possibilities for mitigating these risks. […]
Link: Preventing and managing a large number of corporate insolvencies