ECB and Italy’s bank rescue fund head clash over bailout rules … The European Central Bank and the head of Italy’s bank rescue fund clashed on Monday over the European Union’s tough conditions on state aid for troubled banks. Speaking at the same conference in London, one of the ECB’s most senior supervisors said EU states should follow the bloc’s rules when it comes to dealing with problem banks while the head of Italy’s Atlante fund called the resolution process “absurd.” – Reuters
More bad financial news. Italy, Germany and China continue to decay economically as they move toward financial catastrophe.
Banking sectors are trembling and on the way to toppling. Meanwhile, in China, one of the country’s top businessmen just issued a warning that the country’s dreadful real-estate bubble could pop at any time.
This sort of horrible economic narrative is not a coincidence. It has been painstakingly