Seem another culprit of Merkels ideologies. Said she wont step in to help the bank.
I know many would prefer this option to what we took, but the realities of it are something close to catastrophe. She will single handedly ruin europe.
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It's long been speculated that this bank's failure, Germany's largest, could be the trigger for the next global financial crisis. A 2008 style Lehman moment times 10. Apparently, its total assets is less than 1% of its liabilities.
Seem another culprit of Merkels ideologies. Said she wont step in to help the bank.
I know many would prefer this option to what we took, but the realities of it are something close to catastrophe. She will single handedly ruin europe.
Cough: Soros Fund Management, the family office run by George Soros, had built up a short position worth more than €100m against the German bank around the time of Britain’s vote to leave the EU, but has since scaled this back to below the level where it must be publicly disclosed.
Merkel can give it the big one about not using state aid to help it. They are forcing Italy down that whole bail in thingy majiggy.
We'll see how happens when the prospect of Germany being punished for negligence comes about.
I imagine German tax payers will not be pleased.
Even throughout this though Deutsche bank came out above a few UK banks didn't it. In that stress test?.
Their share price finished the day down 7.54%. https://uk.finance.yahoo.com/q?s=DBK.DE
The bank has an estimated derivatives exposure of 70 trillion euros. That's equal to the entire world's GDP. Warren Buffet once described derivatives as financial weapons of mass destruction.
It's the second biggest investment bank in the world. Perhaps it's too big to bail?
Deutsche Bank is currently down 3.32% today at €10.20, just 2% above the psycholgically important €10 level. https://uk.finance.yahoo.com/q?s=DBK.DE