The EU can build on the experience of countries that established national asset management companies after the financial crisis to deal with a potential new wave of credit defaults in the wake of the pandemic, European Commissioner for Financial Services Mairéad McGuinness has said. McGuiness told a European Commission online conference this Tuesday that “while the issue of non-performing loans may be the same, but not to the extent of the last time, the reason for them is different”. Many businesses that borrowed on the basis of good plans face repayment difficulties as a result of Covid-19. Although it remains…

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