'This Perverse Angst': Draghi Defends Euro Rescue Policies

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Europe's financial system is still fragmented, although the gap in funding costs for banks within the euro area is no longer as wide as it was two years ago. But in lending the differences are still very large, and in some countries the credit flow is disrupted. The banking union can help to restore confidence in cross-border lending. The most important objective of the Asset Quality Review is transparency. We want to shed light on what is hidden in the banks' balance sheets.

http://www.spiegel.de/international/europe/spiegel-interview-with-ecb-president-mario-draghi-a-941489.html