Re:Brexit Is a Lehman Moment for European Banks
by joeyspn on Sunday July 10, 2016 @08:21PM
(#12067972)
> A bank failure doesn't have to happen overnight
A confirmed bankruptcy of Deutsche Bank would be followed by the collapse of 10s of banks, not in a day but maybe few weeks. Quick enough for unleashing the biggest financial armageddon in the western world.
> there will be no systemic risk to the global banking establishment [...]
Are you sure? on June 30th the IMF said exactly the contrary: "Deutsche Bank Poses Greatest Risk to Financial System"
A confirmed bankruptcy of Deutsche Bank would be followed by the collapse of 10s of banks, not in a day but maybe few weeks. Quick enough for unleashing the biggest financial armageddon in the western world.
> there will be no systemic risk to the global banking establishment [...]
Are you sure? on June 30th the IMF said exactly the contrary: "Deutsche Bank Poses Greatest Risk to Financial System"
http://www.nasdaq.com/article/deutsche-bank-poses-greatest-r...
or in a simple pic:
http://cf.broadsheet.ie/wp-content/uploads/2016/06/risks.jpg