There has been rising concern over the health of European banks and the European banking system.
Negative interest rates just are not something commercial banks can prosper from.
Germany has had negative interest rates much of this year, France followed Germany a little later in the year, and it seems as if Switzerland has had negative interest rates since… forever….
Furthermore, the European Central Bank is engaging in a new round of quantitative easing in an effort to underwrite stronger growth within the European Union.
All of this seems to be setting the stage for