Too big to fail?

Europe's banks are soaking up more and more sovereign debt.

Europe's banks are soaking up more and more sovereign debt, reports the Financial Times. According to the European Central Bank, government debt as a percentage of assets at eurozone banks has risen to 5.8% from 4.3% in January 2012. Most of the increases are in holdings of banks' domestic government debt. As Eva Olsson, director of credit strategy at Mitsubishi UFJ Securities, told the Times, this means increasing numbers of lenders might have become "too big to fail."