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ECB warns of eurozone bad loans going forward

A report published by the European Central Bank in mid-June has said that banks in the eurozone are facing realised and expected losses of up $200 billion in household bad debts because of the global financial crisis Total losses, realised and expected, will equal around $650 billion so far with further additional losses of more than $280 billion expected in 2010 and beyond due to the ongoing recessive nature of Europes economy