Monday, July 11, 2016

Deutsche Bank Chief Economist Calls for Bailout of European Banks

In an interview with Welt am Sonntag, David Folkerts-Landau, Deutsche Bank's chief economist, said that an injection of fresh capital was needed to help save EU banks, pegging the amount needed to recapitalise at €150bn, according to City A. M.

"Europe is seriously ill and needs to address very quickly the existing problems, or face an accident," Folkerts-Landau told the German newspaper and highlighted that the Italian banks seemed particularly problematic.

Banksters never stop. It's internalize profits and make the public pay for losses.

End the ECB.

 -RW

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