Under the cover of market turbulance as a result of Brexit, Italy/EU injected €40 into its banking secor and also tossed in a €150 billion (US $166 billion) of guarantees in their latest effort in preventing a bank run on Italian banks.
European Banks Get Crushed, Worst 2-Day Plunge Ever, Italian Banks to Get Taxpayer Bailout, Contagion Hits US Banks
Two days of breathtaking losses for the European banking shares after Brexit clearly shows the fragility of the banking sector there. Brexit is just one of the many possible triggers causing another banking crisis to flare-up.
In light of the recent bank bail-in legislation introduced by the Canadian government, here’s an update on how much the big 5 Canadian banks are exposed to derivatives, those toxic financial instruments of mass destruction which blew up the financial world in 2008 had it been not for the governments using massive public money to bail out the private banks.
Following the footsteps of South Africa and Bolivia, India is the next country trying to re-negotiate or cancel a large number of treaties with ISDS provisions.
The time of re-introducing Glass-Steagall to separate commercial and investment banking has long passed, but it is still not too late.
Part 3 of the peak debt series examines the state of corporate debt, how it is used and where it is heading.
Zero emission milestone reached as country is powered by just wind, solar and hydro-generated electricity for 107 hours
A rare moment of clarity from a lesser god: head of India’s central bank admits central banks and governments of rich countries are running out of ammunition for stimulating their economies… but they can never admit as much.
Oil majors putting a hiatus on their arctic drilling programs, for now. Shell pulled out earlier after pouring 8 billion with no result.
At the risk of over-generalization, ‘gut feel’ tools are generally effective first rules, and the smell test is one of them. Case in point – the great lengths the governments go to hide the TTIP/TPP details from the public. The stinky smell is indicati …