Why a selloff in European banks is ominous

``There is more to the sector slump than just the individual bank problems, according to Garnry. The negative interest rates set by the ECB means that banks effectively have to pay to have cash on their balance sheets, while at the same time getting squeezed on their net interest margins. Debt levels are already really high on the continent, which means further loan growth is expected to be low, he said.'' -- See also Deutsche Bank is shaking to its foundations -- is a new banking crisis around the corner?