The European Central Bank suggested that banks in the eurozone could lose up to another 198 billion euros (US$240 billion) in a “second wave” of bad loans. The ECB said euro zone banks would need to make provisions for further losses this year of 90 billion euros, and 105 billion in 2011, on top of some 238 billion euros in bad debts written off by the end of 2009.
Source: Reuters