Sunday, July 3, 2016

Sunday roundup (07-03-2016)

Brexit Exposes Eurozone’s Weak Spot: Italy’s Banks: The U.K. vote to leave has made an already serious Italian banking crisis worse, Simon Nixon writes (The Wall Street Journal) Renzi ready to defy Brussels and bail out Italy’s troubled banks: Regulators fear intervention would dent credibility of union’s new rule book (The Financial Times)

EU to give Spain, Portugal three more weeks to escape deficit sanctions: official (Reuters)

Who will bail out the US government? (The News-Sentinel of Knoxville, Tennessee)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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