01966cas a2200277 a 4500 AALejournalIMF014953 230101c9999 xx r poo 0 0eng d 5.00 USD 9781498384834 2617-6750 BD-DhAAL BD-DhAAL Bergthaler, Wolfgang. Tackling Small and Medium Enterprise Problem Loans in Europe / Wolfgang Bergthaler, Kenneth Kang, Yan Liu, Dermot Monaghan. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (38 pages) Staff Discussion Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The global financial crisis has left a large private sector debt overhang and high levels of non- performing loans (NPLs) in several European countries. Small and medium-size enterprises (SMEs) represent a significant and weak segment of the nonfinancial corporate sector. SMEs face a number of legal, financial, and regulatory challenges to restructuring that differ from those of larger corporates, such as a rigid and costly insolvency regime, a higher fixed cost to loan restructuring, and the lack of alternative sources of financing. Given SMEs' large presence and close links to the banking system, addressing the SME loan problem in Europe will be critical for strengthening bank and corporate balance sheets and supporting a more robust and sustained recovery. Mode of access: Internet Kang, Kenneth. Liu, Yan. Monaghan, Dermot. Staff Discussion Notes; Staff Discussion Notes ; No. 2015/004 Full text available on IMF http://elibrary.imf.org/view/journals/006/2015/004/006.2015.issue-004-en.xml IMF e-Library