Monte-dei-Paschi

For discussion, news, comments, questions and information about Crete & Greece.
Cruc
Posts: 224
Joined: Tue Nov 27, 2012 2:30 pm
Location: Cheltenham and Kokkino Chorio

Monte-dei-Paschi

Postby Cruc » Thu Dec 22, 2016 11:39 am

The world’s oldest bank has gone into meltdown. So we have had Greece now Italy where next?

https://www.theguardian.com/business/20 ... i-di-siena

:roll: :roll: :roll:
Regards
Cruc

filippos
Posts: 5352
Joined: Mon Feb 05, 2007 7:38 pm
Location: Kalyves
Contact:

Re: Monte-dei-Paschi

Postby filippos » Thu Dec 22, 2016 4:06 pm

Well, Deutsche Bank is heavily involved with Monte-die-Peschi and is in big trouble if M-d-P fails. Merkel has said "No" to more taxpayer bail-outs in the EU so it's bail-in time 'cos the EZ can't let M-d-P fail as Deutsche would follow it down and the probability of that is a banking crisis much worse than the one in 2007/8 from which we're still suffering.

Kilkis
Posts: 8908
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Monte-dei-Paschi

Postby Kilkis » Thu Dec 22, 2016 7:43 pm

Four much smaller banks have already failed in Italy this year. They resulted in pensioners committing suicide because they lost everything in the bail-in and couldn't face life. How many will kill themselves if they bail this one in? How many will be tolerated?

Warwick


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