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How has this 20 billion being calculated?
Using a figure of a loss of 100,000 Euros and 1.5 million UNSOLD properties then that alone is 150 Billion Euros. (100,000 is the figure I am using for the build cost of property)
Then there are the sold homes that owners have defaulted on and have been repossessed. I don’t know this figure, but making a guess again at an average mortgage default of 100,000 Euros and 500,000 properties, then that’s another 50 billion Euros.
Ok some guesses in the above, but 200 billion as opposed to your 20 billion is my guess at the sort of losses the banks are holding today.