Tuesday, July 12, 2016

Crisis Unfolding In Italian Banks

The majority is completely unprepared for the unfolding crisis in the Italian banks. That is, unless the stress tests are fudged. The Brits whom wisely exited the EU despite a substantial verbal from the mainstream media world after the vote must be applauded for recognizing a sinking ship and future money hole called the Euro. The Pound will bottom when the majority recognize the real problem lies in the inflexibility of Brussels, not the Brexit.

Euro Money Hole

Headline: Will Italy's Banks Eclipse Brexit as the Next Big Threat?

State intervention to support Italian banks can’t be ruled out, given the risk that current difficulties may undermine trust in the nation’s financial industry, said Bank of Italy Governor Ignazio Visco. “Given the risk that, in a context of high uncertainty, limited problems could undermine the trust in the banking system, a public intervention cannot be excluded,” Visco said in a speech on Friday at the Italian Banking Association’s annual meeting in Rome.



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