The shadow financial system: making money with unpaid loans
To deal with the risk NPLs pose to the solvency of banks, EU forced them to sell the loans to private companies, and thus seemingly got rid of the problem. In fact, EU rolled the red carpet to opportunistic funds, who are making profit out of them on the expense of debtors. Our project, “Ghost debts: The shadow financial system making money with unpaid loans”, aims to reveal the mechanism of the system and shed light on shady companies, banks and mighty families profiting from it.
