‘Deutsche needs MIRACLE to survive’ Damning verdict of expert who PREDICTED trouble

Monday, October 3, 2016
By Paul Martin

DEUTSCHE Bank faces collapse and will drag down the German and eurozone economy with it, according to an expert who warned of the lender’s problems back in 2013.

By LANA CLEMENTS
Express.co.uk
Mon, Oct 3, 2016

The bank needs a miracle to cope with further troubles, such as the looming £10billion fine from US authorities and business losses, according to Paul Gambles, a managing partner at advisory firm MBMG International.

The strategist raised the alarm over Deutsche’s debts three years ago.

The bank has subsequently seen more than half its value wiped in 2016, as investors run for the door.

Now Mr Gambles predicts Berlin will have to intervene to keep Deutsche afloat amid future woes.

He told CNBC: “It looks like the only saviour would be the state.”

But German government officials and Deutsche Bank figures have vehemently denied the lender needs a bail out.

Mr Gambles added: “If that can only come from the state, then that might be a real barrier to external capital thereafter, creating a vicious downward spiral which is why the finance ministry is so keen to downplay rescue stories when in reality it must know that this is extremely possible.”

The strategist also warned that if Deutsche’s problems are allowed to spiral, the mammoth task of rescuing the bank could be too large for Germany.

And a Deutsche collapse would take down the German and eurozone economy, with significant consequences for the rest of the world, according to Mr Gambles.

The Rest…HERE

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