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SPOTLIGHT: LIMITED PARTNERS
SAID AND DONE
“You can’t keep much of it [money] in your wallet or under the mattress. Thus, in general, any substantial sum has to go into the bank. And in Europe…doing so means you’ll get out less than you put in.”
Oaktree Capital co-chairman Howard Marks in his latest memo on negative interest rates
NUMBER OF THE WEEK
Amount of toxic assets held by Greek banks at the end of June 2019 compared with a peak of €107.2bn in 2016, according to Greece’s central bank. NPL exposure needs to reduce by a further €10.8bn to meet the target agreed with the European Central Bank by the end of this year.