All major European countries have had banking crises in the last 20 years. Spanish & Italian banks are infamous. The oldest bank, BMPS went down. https://en.w

All major European countries have had banking crises in the last 20 years. Spanish & Italian banks are infamous. The oldest bank, BMPS went down. https://en.wikipedia.org/wiki/Banca_Monte_dei_Paschi_di_Siena https://en.wikipedia.org/wiki/Banca_Monte_dei_Paschi_di_Sien... Swiss banks - CS bankrupt, merged with UBS. German banks - DB and Commerzbank are both basket cases, with stock prices bouncing along the bottom, and only avoid bankruptcy because of the implicit ECB backing ( Whatever it takes ). Dodgy state-run French banks propped up by the bailout of Greece - no money went to Greece, it just went into an ECB account, then direct to creditors, mostly French banks! Many EU sovereigns and banks and companies have been bailed out by ECB buying risky assets, even commercial bonds, etc. (Fed is also authorized to buy junk bonds, hence tight spreads v. triple-A paper). UK banks collapsed in 2007-9, with run on Northern Rock. The banking system was effectively nationalized for a decade, and many banks merged into the TBTF incumbents. Recently, the BOE had to bail out pension funds because of MTM losses on bonds. https://www.theguardian.com/business/2022/sep/28/bank-of-england-in-65bn-scramble-to-avert-financial-crisis https://www.theguardian.com/business/2022/sep/28/bank-of-eng...