The economic miracle fueled by foreign-currency debt… Read More Loans Sour in Turkey, Inflation Hits 25%, Interest Rates Spike, Fears of Contagion Rise
Unless you’re a senior banker working for an insolvent bank, or an investor with sizable holdings of slowly putrefying bank shares or bonds, these taxpayer-funded bad banks are by nature a bad idea… Read More Italy’s “Bad Banks,” Created to Save the Financial System, Are Themselves on Verge of Collapse
A bank that is officially too big to fail, with over €1 trillion of “assets” on its books, just admitted that things are even worse than initially feared… Read More Is Italy’s Banking Problem Becoming Too Big to Solve?
All these events conform to a tired, old script. … Read More Who Exactly Benefits from Italy’s Ballooning Bank Bailout?
It’s a banking crisis, an economic crisis, a debt crisis, and a political crisis all rolled into one, and all coming to a head at the same time.… Read More Italy’s Crisis Turns into a Multi-Headed Hydra