BIG PIS: The CEO Of Europe’s Most Troubled Bank, Dexia, Quits As Contagion Tsunami Sweeps Over Belgium

Monday, September 5, 2011
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/05/2011

Just when we thought the world was running out of headlines, here come something that will send futures scurrying for even more safety. According to Belgian Nieuwsblad, the CEO of Belgium’s biggest bank has just resigned. As a reminder, Dexia is the one European bank that in the 2008-2009 period borrowed more money from the Fed than anyone else, and which we have discussed on several occasions in the past few months as being rumored to be on the receiving end of a variety of liquidity “complications” and countreparty concerns. Typically rumors of that nature, coupled with the sudden departure of the CEO, end up being proven as fact shortly to quite shortly. In other news, we are happy to announce the expansion of the PIIGS to BIG PIS following the arrival of the latest country to join the sovereign and bank funding crisis.

The Rest…HERE

Leave a Reply

Support Revolution Radio