Friday, 28 October 2016

Europe banking system in 'death spiral' as Britain faces financial Armageddon

Britain is facing economic apocalypse as Europe’s “crippled” banking system threatens to trigger another global financial crash.
By Joshua Nevett                                 
economic crash 2016CRASH: Experts believe major European banks are on the verge on collapse
Economic experts believe major banks in Germany, Italy, Switzerland, France and Britain have lent too much money to risky borrowers, making them vulnerable to catastrophic failure.
Sinister threats from panicked lenders have sparked fears Deutsche Bank, RBS, Lloyds, Unicredit, Intesa SanPaolo, and BMPS could all need taxpayer funded bailouts.
Because major British banks have assets – said to be worth billions – tied up in many of these banks, our financial system would suffer from the collapse.
When Lehman Brothers collapsed in 2008, Britain’s banks – in a similarly risky position – were sent into a tailspin and taxpayers had to fund the bailout.
An economic expert recently told Daily Star Online another economic crash is looming – and British taxpayers will foot the bill. 
Economic crisis 2016MELTDOWN: Experts fear an economic crisis is looming – and could be worse than 2008
It comes as all the major European banks prepare to release reports on their financial situations.
David Hendler, of New York-based Viola Risk Advisors, said Deutsche Bank’s collapse could take down the world banking system.
He said: "Like autumn leaves falling from the mighty oaks, the incredible yellows, oranges, and reds, will turn and rot into the ugly browns and black detritus, leading to smelly and then crumbled leaves.
“Once a mighty European bank, unfortunately, Deutsche Bank is going down that “death-spiral” path and much of the big European banks are too whether due to their own transgression or sucked down into the European bank ocean depths by the biggest bank in Europe, Deutsche Bank.
"Compounded by a crippled Italian banking system with no easy way out, and anaemic French banking and half-hearted British banking, these big European region banks do not present any good merger saviours.
"Don't look to the Swiss which are always insular and with Swiss banking continuing in its fortress-like capital wall building mode cannot handle troubled balance sheet banking target.

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