Grudge-bearing banks seem prepared to defy all commercial logic
When it comes to being stubborn, banks take some beating. They have been shown to reject State-sanctioned debt deals, and instead force consumers to opt for bankruptcy in four out of 10 cases.
This is despite the banks losing an average €100,000 on each vetoed debt deal.
This means the financially stricken consumer is left with no choice but to have themselves declared bankrupt.