Europe's Banks, Slow to Restructure, Pose a Systemic Risk Today.

The article focuses on the greatest risk being posed by the European banking system to global financial security. It looks at the fallout of the 2008 financial crisis in Europe, where the region's undercapitalized banks responded badly and are still far from healthy. It also highlights Ireland's banking failures, the bailout needed by Spain after a property collapse, the slow restructuring of the big British banks, and euro area's debt crisis that continuously affect the healthier banks.