back to banking.21 Nov 2018 07:27
Wednesday, November 21, 2018
Greek crisis returns as Italian banks enter the danger zone. Greece’s financial crisis has come back to the boil as Athens draws up emergency plans to stabilize the banking system, raising concerns that the country may ultimately need a fourth EU rescue to escape its depression trap. Global risk aversion and contagion from Italy’s parallel banking drama has lifted a lid on the festering legacy of bad debts, and exposed the implausible methods employed by Greek regulators and the EU-led troika to camouflage the problem. Greek bank shares slumped a further 6% on Tuesday after five days of falls.
In years to come they will be saying remeber when those europeans burnt tthere money to keep them warm. Some even used the Euro notes as wallpaper. History really does have a habbit of repeating itself and the trouble is the harder you try to avoid the forseable it just makes it more inevitable.