Is a the European bank rally sustainable? European banks continue to rally marginally following the release of the European Bank Authority stress test. However, risks remain with a referendum to be held in Italy proposing to redesign their election process putting any Italian bank restructuring at risk. The EU banking committee proudly announced positive stress […]
This week, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee with less than 10,000 in population, announced it will begin charging retail customers to hold their cash starting in September. This will apply to accounts greater than €100,000 euros. This means the bank will charge customers 0.4 percent, which amounts to […]
The European banking crisis is spreading rapidly. There are now concerns in Italy and in Portugal as well. The ECB cannot even understand why people would not want to keep their money in banks with negative rates. They are simply incapable of managing the economy. The ECB is bringing Europe to the brink of a […]
QUESTION: Hello Martin, If i have exposure to various banking counterparties in europe – what do i do from running a fund mgmt business as i m a bearish on banks….but i cant shut my business as i m fearful of banks…..what do you advise….how can one hedge or think about getting away from this […]
QUESTION: Mr. Armstrong, why are Italian banks in worse shape than most other countries. What happened to the bail-in program of the ECB? Can you explain why Italy is threatening the entire banking system of Europe? ANSWER: The bail-in policy of the IMF and ECB was directed at the idea that the rich would pay, […]
The world financial crisis that is unfolding post-2015.75 is different from that which followed the 2007.15 peak in the ECM. As stated countless times, each event is a crisis in a different sector. The 2007.15 crisis was the over-leverage in real estate that the bankers created. This time, we are looking at the demise of […]
We have reports from readers in Italy that ATM machines are being emptied. A run on banks is beginning in Italy.
