{"id":27911,"date":"2017-11-13T07:16:58","date_gmt":"2017-11-13T12:16:58","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27911"},"modified":"2017-11-13T07:16:58","modified_gmt":"2017-11-13T12:16:58","slug":"european-banking-crisis-2","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27911","title":{"rendered":"European Banking Crisis"},"content":{"rendered":"<div id=\"header\" class=\"clearfix\">\n<div class=\"wrap clearfix mainNavWrap\">\n<div class=\"navWrap\">\n<nav id=\"ubermenu-main-2-main-menu\" class=\"ubermenu ubermenu-main ubermenu-menu-2 ubermenu-loc-main-menu ubermenu-responsive ubermenu-responsive-1024 ubermenu-responsive-collapse ubermenu-horizontal ubermenu-transition-shift ubermenu-trigger-hover_intent ubermenu-skin-none  ubermenu-bar-align-full ubermenu-items-align-left ubermenu-bound ubermenu-disable-submenu-scroll ubermenu-sub-indicators ubermenu-retractors-responsive ubermenu-notouch\">\n<h3><a href=\"https:\/\/www.armstrongeconomics.com\/world-news\/banking-crisis\/european-banking-crisis-4\/\">European Banking Crisis<span style=\"color: #333333;\"><\/span><\/a><\/h3>\n<\/nav>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"pageWrap clearfix\">\n<div class=\"wrap clearfix\">\n<div class=\"mainContent\">\n<div class=\"contentWrap\">\n<div class=\"theContent\">\n<p><a class=\"fancybox image\" href=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-70435 aligncenter\" src=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind.jpg\" sizes=\"auto, (max-width: 602px) 100vw, 602px\" srcset=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind.jpg 602w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind-300x174.jpg 300w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind-180x105.jpg 180w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2017\/11\/Stiff-Wind-600x349.jpg 600w\" alt=\"\" width=\"602\" height=\"350\" \/><\/a><\/p>\n<p><a class=\"fancybox image\" href=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-43329 alignright\" src=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis.jpg\" sizes=\"auto, (max-width: 317px) 100vw, 317px\" srcset=\"https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis.jpg 486w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis-300x200.jpg 300w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis-165x110.jpg 165w, https:\/\/d33wjekvz3zs1a.cloudfront.net\/wp-content\/uploads\/2016\/01\/Draghai-Euro-Crisis-180x120.jpg 180w\" alt=\"\" width=\"317\" height=\"211\" \/><\/a>There is intense resistance building against the stricter new rules on bad loans among the European banks. This will hit Italy hard and may push off the edge more than one Italian bank. With the elections coming next year in Italy, the banking rules may be the straw that breaks the back.<\/p>\n<p>The background to the dispute is the demand of the ECB\u2019s banking supervisor that banks must withhold higher reserves for the default-prone loans in their portfolios. The crisis stems from the fact that as taxes have increased, the economy has declined. The total bad loans in the Eurozone add up to about \u20ac844 billion euros. About 25% of this figure is concentrated in Italian banks.<\/p>\n<p>A good stiff wind may blow over the European banking system<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>European Banking Crisis There is intense resistance building against the stricter new rules on bad loans among the European banks. This will hit Italy hard and may push off the edge more than one Italian bank. With the elections coming next year in Italy, the banking rules may be the straw that breaks the back. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5496,63,281,282,284,1044,5479],"class_list":["post-27911","post","type-post","status-publish","format-standard","hentry","category-economics","tag-armstrong-economics","tag-banks","tag-europe","tag-european-central-bank","tag-european-union","tag-mario-draghi","tag-martin-armstrong"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27911"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27911\/revisions"}],"predecessor-version":[{"id":27912,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27911\/revisions\/27912"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}