1:欧洲的未来，都寄托给了银行。||2:欧元区经济体都害怕，特别是欧元区边缘经济体，他们会重复日本90年代的经历——银行“半死不活”，几年来一直摇摇晃晃，死不下去也活不过来，借不出钱也倒不下去。||3:欧洲银行也出现了类似迹象，奄奄一息。||4:欧洲银行的平均市净率低于1，意味着投资商们认为这些借贷银行赖活着不如死了。||5:美国银行迅速进行了资本重组，市净率超过了1。||6:意大利两大借贷银行联合信贷和联合圣保罗的市净率分别是0.34和0.42。

1: Banks are central to Europe’s prospects. ||2: The fear, especially in peripheral economies, is arepeat of Japan’s experience in the 1990s, when “zombie” banks staggered along for years,neither healthy enough to lend to firms nor weak enough to collapse. ||3: There are the sameunvital signs in Europe. ||4: The average price-to-book ratio for European banks remains below one,suggesting that investors think lenders are worth more dead than alive. ||5: In America, wherebanks were recapitalised quickly, the ratio exceeds one. ||6: Italy’s two big lenders, UniCreditand Intesa Sanpaolo, have ratios of 0.34 and 0.42 respectively.