While everyone is endlessly told about the world-ending dangers of Brexit, I wonder if we should be paying a little more attention to “Deutsche-it”. If the UK leaves the EU the EU will survive. But what happens when – and surely it’s no longer if – but when Deutsche Bank, Germany’s biggest and only truly …
It’s not Brexit but “Deutsche-it” you want to worry about Read More »
For what little they might be worth here are a few thoughts about Greece. My great concern is not what happens if Syriza stick to their guns but what happens if they don’t. If Syriza backs down to Germany and fails to deliver what so many Greek people voted for, I fear people will, in …
On Sunday a former Senior Deutsche Bank manager, William Broeksmit, was found hanged at his house. He was the retired Head of Risk Optimization for the bank and a close personal friend of Deutsche’s Co-Chief Executive, Anshu Jain. Mr Broeksmit became head of Risk Optimization in 2008. He retired in February 2013. Early this morning, …
In a democracy rule is by consent. In a dictatorship it is by control. Which do we have in the West? It seems to me, it is no longer clear. We certainly still have the rituals of rule by consent. But behind the elected front men and women is a shadow state. It’s people ritually …
NSA/GCHQ – The New Praetorians and the New Cold War Read More »
Europe, the ECB and the IMF have put a gun to Cyprus’ head. The threat has been made public – you do as we say and seize depositor’s money or – Germany to Cyprus: your banks might never re-open Either Cypriot members of parliament ignore the will of the Cypriot people or the ECB stops …
For whom might it make sense to help Greece, as impasse with Germany hardens and Greece approaches default? And what sort of offer of help would make sense for Greece? Europe and in particular the Germans have painted themselves into a Teutonic corner. It will make no more nor less sense for Germany to blink …
Part two. Before I get stuck in, I want to make it clear. it is not my intent to paint Depfa as angels and HRE as devils. Depfa did stupid things. Their funding problems were not so dissimilar to Northern Rock’s. But Depfa had far better assets. And therein is part of the story. So …
Ireland was Germany’s Off-shore Tart – PART 2 – The US connection Read More »
Now that Mr Cowen has lost control of his party, coalition and country, the Irish can expect to be bullied and hectored from all sides. It is more important than ever for Ireland to defend herself against the claims that she owes the rest of us. She doesn’t. Every European bank exposed to Irish loans, …
