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Tag Archives: italy
114 Italian Banks (Roughly 23%) Have NPLs Exceeding Tangible Assets
114 Italian Banks (Roughly 23%) Have NPLs Exceeding Tangible Assets 114 Italian banks have non-performing loans that exceed tangible assets. Ratios above 100% are signs of severe stress. The headline image is from the from ilsole24ore.com. The article is dated March 25, 2017. The translated headline reads “Here are the 114 Italian banks at risk […]
EU Concern Rising About Italian Debt
EU Concern Rising About Italian Debt The EU Commission is deeply concerned that Italy is under pressure to spend frivolously because of the upcoming elections. The EU is apply more scrutiny for Italy’s huge sovereign debt. Because of the vast size of the Italian economy, the high level of total debt is a major cause for […]
The Next Italian Bank Threatens to Topple
The Next Italian Bank Threatens to Topple Sharp Dose of Deja Vu for Italy’s Teetering Banks. In a speech that did little to calm investors’ nerves, Italy’s finance minister said yesterday that he was “strangely optimistic” about Italy’s economic outlook. Senior eurocrats in Brussels are far from convinced. “Italy’s accounts are not improving,” blasted European […]
Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges
Italy Target2 Imbalance Hits Record €432.5 Billion as Dwindling Trust in Banks Plunges Contrary to ECB propaganda, Target2 imbalances are a direct result an unsustainable balance of payment system. The imbalances represent both capital flight and debts that can never be paid back. If you think Italy can pay German and other creditors a record […]
Ray Dalio’s Shorting The Entire EU
Ray Dalio’s Shorting The Entire EU Salvator Rosa Heroic battle 1652A point BOE Governor Mark Carney made recently may be the biggest cog in the European Union’s wheel (or is it second biggest? Read on). That is, derivatives clearing. It’s one of the few areas where Brussels stands to lose much more than London, but […]
The Italian experiment and the truth about government debt
The Italian experiment and the truth about government debt Money is a slippery concept. Today we think of it as paper certificates and coins. But actually, anything that is generally accepted in trade can be considered money. The rise of cryptocurrencies is demonstrating this truth. In wartime scarce but desirable and easily transported commodities such […]
Scientists Say Italian Supervolcano Is “Becoming More Dangerous” As Magma Builds Beneath It
Scientists Say Italian Supervolcano Is “Becoming More Dangerous” As Magma Builds Beneath It After the long-dormant supervolcano Campi Flegrei awakened late last year, a team of scientists that has pinpointed the now-active volcano’s magma source says a potentially devastating eruption could be just around the corner. Campi Flegrei is a volcanic caldera to the west […]
Rome’s Transport System Faces “Meltdown,” On Brink Of Collapse
Rome’s Transport System Faces “Meltdown,” On Brink Of Collapse New York City’s deteriorating subway has a rival for world’s most dysfunctional public transportation system. After only three months on the job, Bruno Rota, the head of Rome’s public-transit company has announced that he’s leaving his post, saying that the Italian capital city’s decaying transportation system […]
Italy’s newest bank bailout cost as much as its annual defense budget
Italy’s newest bank bailout cost as much as its annual defense budget Two more Italian banks failed over the weekend– Banco Popolare di Vicenza and Veneto Banca. (In other news, the sky is blue.) The Italian Prime Minister himself stated that depositors’ funds were at risk, so the government stepped in with a bailout and […]
Italian Taxpayers To Foot €17 Billion Bill As Rome Bails Out Another Two Insolvent Banks
Italian Taxpayers To Foot €17 Billion Bill As Rome Bails Out Another Two Insolvent Banks Two weeks after the first, and biggest, European bank bail-in took place under the relatively new European bank resolution mechanism, the EBRD, when Spain’s Banco Popular wiped out the holders of its most risky securities, including equity and AT bonds, […]
Two Italian Zombie Banks Toppled Friday Night
Two Italian Zombie Banks Toppled Friday Night ECB shuts down Veneto Banca and Banca Popolare di Vicenza. When banks fail and regulators decide to liquidate them, it happens on Friday evening so that there is a weekend to clean up the mess. And this is what happened in Italy – with two banks! It’s over […]
