EU SME Lending Collapse Opens $39B Onchain Credit Gap
Basel III drove a 40–50% drop in bank SME lending, then another 12% since 2023, leaving a €39B annual shortfall now filled by floating-rate non-bank debt that punishes borrowers when rates rise.
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Basel III drove a 40–50% drop in bank SME lending, then another 12% since 2023, leaving a €39B annual shortfall now filled by floating-rate non-bank debt that punishes borrowers when rates rise.
Basel's punitive risk weight forces banks to hold a dollar of capital for every dollar of BTC exposure — the senators argue that makes legislative permission to hold Bitcoin meaningless before the…