Brilliant data set on Staff and Admin costs in domestic banking sectors across the Euro Area (H/T to Lorcan Roche Kelly aka @LorcanRK via twitter), via ECB (link) :
So run through these. Over 2008-2001, Admin & Staff costs in banks:
- Declined by 7.84% across the entire Euro Area;
- Went up in Cyprus by a massive 21.9% (banks are now bust), in Spain by 12.16% (banks are largely bust), in Portugal by +4.26% (many banks are zombified)
- Fell marginally by -0.05% in Italy (some larger banks in pretty dire shape), -3.2% in Greece (banks are bust).
- Fell significantly in Ireland by -26.4% (banks are bust), Luxembourg by 36.5% (brassplates operations), and by 31.3% in shaken Estonia (banks are operating in high risk, low growth environment). Fell consistently in line with overall state of the crisis across the banks-related sectors of the economy in the Netherlands (-10.81%) and overshooting economy's woes in Belgium (-23.2%).
- Fell massively in Germany, where overall banking sector was not as badly mangled (-59.6%).