Italian Bank Crisis as Harbinger of Things to Come

Tuesday, August 2, 2016
By Paul Martin

By Jack Rasmus
Global Research
August 02, 2016

Growing problems in Europe banks, especially Italy, with $2 trillion and $400 billion in non-performing loans, respectively, is about to worsen as Brexit effects slowly take hold. Europe’s recent phony bank ‘stress tests’, underestimate the problem, but still show not only Italian banks, but UK (Barclays, RBS), France (SocGen), Ireland (Allied Irish), and even German (Deutsche, Commerz) all in increasing trouble.
Stress tests are designed not to show the full problem (Portugal, Greek and Cyprus banks are excluded, as just one example) so the problem is even worse than reported.

Listen to my radio show, Alternative Visions, of July 29 and discussion of the Euro banking crisis emerging. The show also includes my preview of the US recession coming in 2017 and comments assessing the Trump and Clinton convention speeches. (Trump’s focus on lack of wage and income growth hits voters’ concerns more than Hillary-Obama’s claim of 12 million mostly low paid, part-time, temp jobs created since 2010).

The Rest…HERE

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