Too big to save, Europe's banks need to be broken up, writes restructuring expert Jim Millstein....

|By:, SA News Editor

Too big to save, Europe's banks need to be broken up, writes restructuring expert Jim Millstein. The assets of France's 5 largest banks are 3X the size of the French economy - it's clear the country can't afford to save even one of them. Millstein would like to see a EU version of the Dodd-Frank rule giving regulators power to take apart banks with more than $50B in assets.