Gloomsters at analyst house Gartner have lowered their estimates for IT spending in 2012 and forecast that a third of EU banks will go under within the next two years.
Garner: "By 2014, major national defaults in Europe will lead to the collapse of more than one-third of European banks."
A consolidation is surely needed - but that it will happen through "defaults" and even "major national defaults" is of course extremely unlikely on EU-level - even on national level. State ownership will grow but it can take longer than 2014 for taxpayers
to get out with profit.
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