Tag Archives: Deutsche Bank

What The First 100 Days After Brexit Would Look Like | Zero Hedge

June 16, 2016 By in Brexit, Business Administration, David Cameron, Defense Policy, Economics, Euro Crisis, Foreign Policy, French election, Growth, Immigration, People, Politics Tags: , , , , , , , , , Leave a comment
ECB Hazard Very Toxic Symbol

ECB Hazard Very Toxic Symbol (Photo credit: Wikipedia)

Zero Hedge looks at post Brexit crisis management. It argues that before dawn on June 24, if an exit vote becomes clear, the EU’s top brass from Berlin to Brussels will be forced into damage control. It suggests that in echoes of the Greek debt crisis, euro-area finance ministers may hold an emergency meeting as soon as that evening. It concludes that wild swings in the pound, more aggressive interventions by the Swiss National Bank and a ratcheting up of global instability rank as likely market reactions.

Source: What The First 100 Days After Brexit Would Look Like | Zero Hedge

Elsewhere in the news the French Republican Party is signalling that the ultimate failure for the EU would be to let the UK leave and invite Turkey instead.

There is still room for Europe’s politicians to make last minute concessions to the UK. Will we see Angela Merkel riding in on a white horse coming to David Cameron‘s rescue?

 

Opinion – Bad Faith. Why Real Debt Relief Is Not On The Table For Greece » James K Galbraith – Social Europe – John Gelmini

June 20, 2015 By in Austerity, Business Administration, Fiscal Policy, Growth, People, Politics Tags: , , , , , , , , , Leave a comment
International Monetary Fund

International Monetary Fund (Photo credit: Wikipedia)

Whilst I understand this narrative from Dr Alf and James K Galbraith, of malevolent French and German banks and people at the IMF being the culprits, I cannot simply absolve Greece and its Government of culpability.

The UK and America and every country in Europe bailed out the banks and those who controlled them 3 times, yet in the UK not a single banker went to prison and none of the money laundered through hedge funds and secreted in up to 40 different tax havens has been recovered. America is still trillions of dollars in debt, yet not one penny of the $400 billion which disappeared when Lehman Brothers collapsed has been recovered.

The world’s super rich doubled their money before the LIBOR rate rigging scandal, during the period between it and the original banking crisis but everyone else took a substantial and painful “haircut” as a direct result of this “controlled demolition” of the world financial system perpetrated by criminals at the upper end of the “food chain”.

The rest of us could engage in the blame game, riots and civil commotion, just like the Greeks, but we take our medicine with a sense of weary resignation and profound irritation with the authorities, the banks and now the Greeks must do the same.

The criminals are still in position, seemingly untouchable and able to do what they like and short of divine intervention and the actions of an Icelandic style super-bailiff aided by forensic accounts, computer hackers, international lawyers and recovery experts, our money is permanently stolen.

John Gelmini