Thursday, September 22, 2016

Thursday roundup (09-22-2016)

Regulators expect Monte dei Paschi to ask Italy for help - sources (Reuters)

The Implications Of The Italian Banking Crisis Could Be Disastrous (Forbes) COULD ITALY’S BANKING PROBLEMS SPARK A EUROZONE CRISIS? (International Banker) Italian banks will 'unravel' Europe: The "failed" Italian banking system, not Brexit, will be the trigger that finally "unravels" the European Union, says Westpac's chief economist. (InvestorDaily of Australia)

IMF says Portugal's recovery is running out of steam (The Associated Press) IMF says Portugal bailout only "qualified success", leaving unfinished business (Reuters)

Juncker issues WARNING SHOT to Spain: There will be NO MORE funds if debt isn't controlled: SPAIN has been warned by Brussels it could be refused a huge amount of financial support if it fails to get its budget deficit under control. (The Express)

China told to combat debt problem or face banking crisis: Ratings agency Fitch has added its voice to mounting concerns about financial instability in the Chinese economy. (CityAM) Fitch reveals the $2trillion black hole in China's economy that heralds a lost decade by Ambrose Evans-Pritchard (The Telegraph)

Commerzbank eyes thousands of job cuts in strategy revamp - sources [with one saying 5,000 cuts are "entirely plausible"] (Reuters)

Ericsson to end Swedish production and cut 3,000 jobs, reports say: Mobile telecoms firm will halt 140 years of manufacturing in home country as part of cost cuts, according to Swedish media (The Guardian)

Bayer-Monsanto deal 'danger for our food': French chefs (The Local)

     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.

No comments:

Post a Comment