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EU Banks Lost Even More than US Banks
IMF Boosts Global Loss Estimate to $4 Trillion: Roubini Estimates $1.8 Trillion Fall on U.S. Banks/Brokers, Up to $2 Trillion on European Banks, Rest on Asia
April 7: IMF to say that toxic debts racked up by banks and insurers around the world could spiral to $4 trillion. The IMF said in January that it [...]
Fuck the ECB: european solidarity trumps monetarist dogma
Friends, Sisters, Genderbenders of the european peninsula: the old guys in Frankfurt are trying to prevent Germany to bail out Ireland and other countries in the eurozone because otherwise “fiscal discipline” and the euro would be in danger. Trichet, Almunia, you there? Then listen well: fuck the Maastricht Treaty and the Stability Pact: its utter [...]