Comments on: Belgian Bank unwind

By: Patrick Donnelly

Patrick Donnelly — Wed, 14 Sep 2011 12:16:32 +0000

Looks like most dislike commenting on Israel! Should be named Judea anyway, typical!

Belgium was tipped to be in trouble a few years ago after PIGS.

By: Moraymint

Moraymint — Tue, 13 Sep 2011 19:10:15 +0000

In reply to Hysteria. Me too Hysteria!

By: StevieFinn

StevieFinn — Tue, 13 Sep 2011 19:02:18 +0000

In reply to Jim M.. Thanks for that, a great read, makes a lot of sense. The liar's loans that caused the crisis afterwards corrupted good loans too. A kind of cancer.

By: Jim M.

Jim M. — Tue, 13 Sep 2011 16:08:30 +0000

@ StevieFinn:

If black & white is to your taste, you may enjoy Bill Black’s summation of why the Banks really are to blame for all our financial woes!

http://neweconomicperspectives.blogspot.com/2011/09/who-put-rot-in-herr-hummlers-wurst.html#more

By: Mike Hall

Mike Hall — Tue, 13 Sep 2011 13:42:32 +0000

In reply to Dave. +1

By: Mike Hall

Mike Hall — Tue, 13 Sep 2011 13:30:00 +0000

Excellent panel discussion on the Euro crisis featuring Michael Hudson on RT News (non-mainstream) linked on Naked Capitalism here:

http://www.nakedcapitalism.com/2011/09/euro-sos.html

By: Neil

Neil — Tue, 13 Sep 2011 13:28:10 +0000

Another snippet from the Wall St Journal article on French banks I quoted above:

“Now that the situation is bordering on catastrophe, analysts are suggesting that the government is set to start nationalizing France’s banks. The banks have remained silent on the matter, and the government denies this talk.”
(from http://www.zerohedge.com/news/europe-imploding-again-following-another-ugly-italian-bond-auction-wsj-article-discussing-frenc ).

The Merkel-Sarkozy Greek statement news has now been withdrawn, but Reuters is now saying they’ll hold a conference call with the Greek PM George Papandreou tomorrow.

The rumour mill is certainly doing overtime.

By: StevieFinn

StevieFinn — Tue, 13 Sep 2011 12:09:40 +0000

@ Eric,
Very scary to see it there in black & white & to imagine how apathetic & unaware the nation is. Sociopaths is right.

By: Dave

Dave — Tue, 13 Sep 2011 11:49:20 +0000

In reply to Erictheking. Sociopaths .

By: Neil

Neil — Tue, 13 Sep 2011 11:42:26 +0000

(Sir) Howard Davies: ‘In the next couple of days, the French government will have to recapitalize their banks’

Peston post: France held hostage by its banks

“The danger is that at the moment that the French government makes explicit an open-ended willingness to underwrite the enormous balance sheets of French banks, the more the perceived strength of the balance sheet of the French state would be undermined. In a worst case, the risk for France is that it becomes Ireland on steroids.”

http://www.bbc.co.uk/news/business-14896685

There will be an EU summit on the future of the eurozone on October 17th and 18th (17th October, eh? Isn’t that when Greece runs out of money, absent a European bail-out?)

Reuters report that Sarkozy and Merkel will make “an announcement” on Greece later today.

PS on Commerzbank – see Golem Aug 10th: “Commerzbank in Germany just announced a 93% drop in profts due to ‘impairments’ on exposure to Greece. Can’t wait to see what ‘impairments’ they declare in a couple of months time due to exposure to Italy and Spain.”