Hey there! Sign in to join this conversationNew here? Join for free

'Europe is extremely sick', says Deutsche Bank chief economist Watch

    • Thread Starter
    Offline

    1
    ReputationRep:
    Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.


    Stefano Rellandini Italian 'zombie' banks put EU financial system at risk
    In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.


    A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.


    “Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident. I’m no doomsday prophet, I am a realist,” he said in an interview to Welt am Sonntag.


    According to Folkerts-Landau, Brussels should follow Washington’s steps that helped US banks with a $475 billion bailout.

    More:
    https://www.rt.com/business/350622-e...deutsche-bank/
    Offline

    7
    ReputationRep:
    sure am glad that's nothing to do with us now
    Offline

    15
    ReputationRep:
    It sure is sick, it's full of germs aka "refugees"
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by Gora The Xplorer)
    sure am glad that's nothing to do with us now
    Offline

    1
    ReputationRep:
    (Original post by WW3IsComing)
    Brussels urgently needs a €150 billion bailout to begin a major recapitalization program for its banks, according to Deutsche Bank’s David Folkerts-Landau.


    Stefano Rellandini Italian 'zombie' banks put EU financial system at risk
    In the aftermath of UK’s Brexit vote, the focus of attention has switched to Italy’s banking sector, which has accumulated €360 billion in bad loans, and growing.


    A former member of the ECB executive board Lorenzo Bini Smaghi, and now chairman at Societe Generale, has warned the banking crisis in Italy could spread to the entire EU.


    “Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident. I’m no doomsday prophet, I am a realist,” he said in an interview to Welt am Sonntag.


    According to Folkerts-Landau, Brussels should follow Washington’s steps that helped US banks with a $475 billion bailout.

    More:
    https://www.rt.com/business/350622-e...deutsche-bank/
    Interesting stuff. It'll be especially interesting to see what happens to Europe when the next financial meltdown, likely coming fairly soon, occurs.
    Offline

    14
    ReputationRep:
    I want to lick those bankers' tears.
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
    Useful resources
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.