No end to Deutsche Bank’s problems: new litigations in the US and frailty in EU stress test

Deutsche Bank Towers – Walkway from Tower A to Tower B. Headquarters in Frankfurt am Main. (Deutsche Bank Audiovisual Services, August 6, 2015).

Last Wednesday, Deutsche Bank’s shares fell by 4.5% in the first hour of trading in Frankfurt, after the bank released its second quarter results, showing a measly profit of €20 million, in comparison to €818 million last year. The percentage fall of this stock is the biggest ever in such a brief time in the […]

Deutsche Bank: the next financial crisis is here and the lenders need €150 billion from taxpayers

Deutsche Bank Towers – View of the entrance. Headquarters in Frankfurt am Main. (Deutsche Bank Audiovisual Services).

Last Monday David Folkerts-Landau, the chief economist of Deutsche Bank, the ailing largest lender of Germany, in an interview with the prestigious newspaper ‘Die Welt’ stated that European banks must be subsidized with €150 billion in rescue money to recapitalize. Obviously, it will be the taxpayers to once more provide the capital the euro area […]

Deutsche Bank slammed by the US-based trio of IMF, Fed and Moody’s

Deutsche Bank. Overview of the trading floor in Frankfurt am Main, Germany. (Deutsche Bank audiovisual Services).

Last Thursday morning the International Monetary Fund and the American central bank, the Fed, simultaneously but in the face of it independently, issued warnings about the health of the largest German lender, the long ailing Deutsche Bank. A few days before that the US rating agency Moody’s had degraded the creditworthiness of the bank close […]

All talk but no action against fraudulent bankers

Joint press conference by Viviane Reding, Vice-President of the EC, and Michel Barnier, Member of the EC, on the amended proposal for a Directive on Criminal Sanctions for Insider Dealing and Market Manipulation, (EC Audiovisual Services).

The European Commission plans to propose on Wednesday 18 September draft legislation against the fraudulent setting and use of financial benchmarks like Euribor, Libor and the Baltic Indices. This comes on top of investigations launched recently in London, New York even in Brussels, where bankers are being criminally prosecuted, and thirteen giant western investment banking […]

EU: 13 major banks may pay fines 10% of worldwide turnover

Joaquín Almunia, Vice-President of the European Commission in charge of Competition, gave a press conference on the statement of objections to 13 investment banks, ISDA and Markit in credit default swaps and derivatives investigation. (EC Audiovisual Services, 01/07/2013).

In a long-awaited decision, Joaquín Almunia, Vice President of the European Commission responsible for Competition Policy, accused thirteen western giant investment banking groups and two support bodies that those banks created a trust, setting prices in the over the counter trade of Credit Default Swaps and Derivatives, a multi trillion business. The Commission’s investigation covers […]

Hostages to a rampant banking system

General view of the seminar on Public Investment Banks, which was organised in Brussels by the Bureau of European Policy Advisers (BEPA). (EC Audiovisual Services).

The European Commission presented yesterday its European Financial Stability and Integration Report (EFSIR) at a joint conference with the European Central Bank (ECB) in Brussels. Overall, the report concludes that “despite improvements, the financial crisis continued to exert a significant impact in holding back economic growth in 2012”. Earlier today, Friday 26 April, the European […]

Eurozone again whipped by Greek winds

Athens general views

The details of Private Sector Participation (PSI) in the haircut of the Greek debt is presently the critical issue, on which will be judged not only the prospects of Athens regaining sometime in 2015 the possibility of self-financing its debts, but the outcome of negotiations over the PSI will also define the overall abilities of […]