ECB Declares Two Italian Banks Have Failed

The European Central Bank (ECB) has announced as of June 23rd, that it was declaring two Italian banks insolvent. Veneto Banca Spa and Banca Popolare di Vicenza Spa have failed since the two banks repeatedly violated the regulatory capital requirements. The determination was made in accordance with Article 18 (1a) and Article 18 (4a) of the Uniform Resolution Mechanism Regulation.

The European banking crisis continues.

Latest Posts

Market Talk – April 29, 2024

ASIA:   The major Asian stock markets had a green day today: NIKKEI 225 closed Shanghai increased 24.41 points or 0.79% to 3,113.04 Hang Seng increased 95.76 points or 0.54% [...]
Read more

Half of Americans Want Mass Deportations

https://www.armstrongeconomics.com/wp-content/uploads/2024/03/BidenApologizesMigrants.mp4 Inflation and migration are two major issues trending before the elections. A new Axios Vibes survey by The Harris Poll found that half (51%) of Americans want illegal immigrants [...]
Read more

Beware of 2025

QUESTION: Hi Martin, What are you thoughts on holding cash into 2028? You said cash was king, but there would come a time to abandon cash. It seems this CBDC thing is [...]
Read more