Monday marks five years after the fall of Lehman Brothers, a milestone that underscored the brutality of the crisis that were were getting ourselves into and that we are still trying to figure out how to escape. Even though this storm began in the United States financial system, the effects have been felt strongly in the European banking sector.
While firms in the United States have already paid back the money that they borrowed from taxpayers and are getting buy reccomendations, in the EU bailouts are still a reality.
True, many European countries are technically out of a recession and some firms are getting buy reccomendations. But a lot of work is left before the banks can clean up their balance sheets. And much of the taxpayer bailout money will never be repaid.