Is Europe’s NPL Problem Hampering Monetary Policy?

Europe’s non-performing loan problem is hampering the transmission of monetary policy, says Gaston Gelos of the International Monetary Fund. “It remains a major problem and it remains a major obstacle, not only for a stronger recovery, but also it impairs the ability of monetary policy to be as effective as it could be,” Gelos says in a Bloomberg interview with "On the Move" hosts Hans Nichols and Guy Johnson.

Full Show: Bloomberg Daybreak: Americas (08/18)
17:43 - Bloomberg Daybreak: Americas hosted by David Westin and Jonathan Ferro. Guests include Mohamed El-Erian, Bloomberg View columnist and Allianz chief economic adviser, Nick Burns, professor at Harvard Kennedy School, and Americans for Tax Reform President Grover Norquist. (Source: Bloomberg)
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