The Asset Quality Review and Capital Needs: Why re-capitalise banks with public money?

and is republished by CEPS with their kind permission. CEPS Policy Briefs present concise, policy-oriented analyses of topical issues in European affairs. Unless otherwise indicated, the views expressed are attributable only to the author in a personal capacity and not to any institution with which he is associated. Available for free downloading from the CEPS website (www.ceps.eu) © CEPS 201