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Bank Bail Ins Begin as EU Bank “Bailed In” In Austria
Bank Bail Ins Begin as EU Bank “Bailed In” In Austria Bank bail ins in the EU are here after Austria’s financial markets regulator FMA imposed a hefty haircut on creditors in an Austrian bank. Creditors in the bank Heta Asset Resolution will receive less than half of their money back according to the country’s financial regulator, […]
Austria Just Announced A 54% Haircut Of Senior Creditors In First “Bail In” Under New European Rules
Austria Just Announced A 54% Haircut Of Senior Creditors In First “Bail In” Under New European Rules Just over a year ago, a black swan landed in the middle of Europe, when in what was then dubbed a “Spectacular Development” In Austria, the “bad bank” of failed Hypo Alpe Adria – the Heta Asset Resolution AG […]
European Disunion
European Disunion Greece vs. Austria: Non-Friendly Acts Two days ago we came across a headline at Reuters, informing us that “Greece rages at neighbors as fears migrants could be halted”. Say what? What the hell is this supposed to mean? Is this even English? Possibly Reuters employs the same headline editor as Bloomberg….he or she is definitely […]
Austria suspends Schengen agreement, steps up border control, tells EU to sort out migrant crisis
Austria suspends Schengen agreement, steps up border control, tells EU to sort out migrant crisis Migrants walk during snowfall before passing Austrian-German border in Wegscheid in Austria, near Passau © Michael Dalder / Reuters Vienna is radically changing its policy towards migrants and refugees, Austrian Chancellor Werner Faymann told local media. Faymann said that with […]
Germany Reintroduces “Border Controls” With Austria, Sends Riot Police As Refugee Crisis Spirals Out Of Control
Germany Reintroduces “Border Controls” With Austria, Sends Riot Police As Refugee Crisis Spirals Out Of Control Two weeks ago, in what was the first official shot across the bow to Europe’s long-standing “Schengen” customs union, we reported that the Italian province of Bolzano across from the Austrian border announced it is willing to “temporarily suspend Schengen” and […]
Austrian Bad Bank “Black Swan” Bail-In Is Unconstitutional, Austria Declare
Austrian Bad Bank “Black Swan” Bail-In Is Unconstitutional, Austria Declare The subject of bail-ins and bank resolutions is back in the news this month as every eurocrat in Brussels scrambles to determine the best way to recapitalize Greece’s ailing banking sector, which, you’re reminded, is sinking further into insolvency with each passing day thanks to […]
Black Swan 2: This Is “The Next Critical Chapter In The Austrian Banking System Story”
Black Swan 2: This Is “The Next Critical Chapter In The Austrian Banking System Story” When it comes to the sweeping of (trillions of) toxic assets until such time as the ECB starts purchasing not only government bonds but equities, bank loans and really anything else that in a normal world would have some “mark […]
Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In”
Rich Man’s Bank Hit by Bank Run, Collapse, “Bail-In” In Europe nary a day seems to go by without some mention or rumor of a bank run or bank closure. Ground Zero of the current troubles is Greece, whose broken financial system is now wholly dependent on regular infusions of euros from the ECB. The […]
The Austrian Black Swan Claims Its First Foreign Casualty: German Duesselhyp Collapses, To Be Bailed Out
The Austrian Black Swan Claims Its First Foreign Casualty: German Duesselhyp Collapses, To Be Bailed Out Precisely one week ago in “A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe“, when analyzing the consequences of the collapse of Austria’s bad bank, we noted perhaps the […]
A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe”
A Black Swan Lands In Southern Austria: The Ripple Effects Of “Mini-Greece Going Off In The Heartland Of Europe” By far the most notable news of the past week, which has still gone largely unnoticed by the greater investing community whose focus instead was on whether algos would ramp the Nasdaq to 5000, and keep the S&P […]
“Spectacular Developments” In Austria: Bail-In Arrives After €7.6 Billion Bad Bank Capital Hole “Discovered”
“Spectacular Developments” In Austria: Bail-In Arrives After €7.6 Billion Bad Bank Capital Hole “Discovered” Slowly, all the lies of the “recovery”, all the skeletons in the closet, and all the bodies swept under the rug are emerging. Moments ago, Austrian ORF reported that there have been “spectacular developments” in the case of the Hypo Alpe Adria bad […]
ECB Warns UK: Excluding Russia From SWIFT “Could Undermine Confidence In The Whole System”
ECB Warns UK: Excluding Russia From SWIFT “Could Undermine Confidence In The Whole System” As “isolated” Russia signs a military deal with Cyprus, agrees bilateral trade with Greece, ratifies the $100 billion BRICS Bank, and offers to trade advanced anti-aircraft missiles to Iran, it seems threats of more sanctions against Putin and his nation are finding resistance […]
Austria Considers Repatriating Its Gold | Zero Hedge
Austria Considers Repatriating Its Gold | Zero Hedge. And just like that, the list of countries who want to repatriate their gold just increased by one more, because after Venezuela, Germany, the Netherlands, sorry Switzerland, and rumors of Belgium, we now can add Austria to those nations for whom the “6000 year old barbarous relic bubble” […]
ECB cools speculation over bank health checks ahead of results | Reuters
ECB cools speculation over bank health checks ahead of results | Reuters. (Reuters) – The European Central Bank cautioned on Wednesday against speculation over the outcome of its stress tests after a media report said at least 11 banks had failed the landmark financial health checks, driving some banking shares lower. Austria’s Erste Group (ERST.VI) rejected the […]
