Credit acquisition companies bought 141,478 Cypriot loans at €3.2 billion — a 20% discount on their face value. They have since collected €5.7 billion. Yet, the loans they hold have not shrunk: they have grown, to €18.5 billion, because interest has continued to accrue throughout. That dynamic, laid out in confidential Central Bank data that … Continue reading Non-performing loans now worse than in 2013 crisis, central bank data reveals