Getting In Bed With Government
Submitted by Jim Quinn via The Burning Platform blog,
Submitted by Jim Quinn via The Burning Platform blog,
By Chris at www.CapitalistExploits.at
Today we discuss the largest wholesale funding market in the world, the eurodollar market, and how its "normal" form of functioning has dramatically changed, causing all manner of problems in the global economy.
In last week's post we discussed shadow banking at its finest: the eurodollar market. It was the precursor to this article and so if you've not read it then it'll be useful to do so here before reading this article.
Source: Japantimes
15 Billion Euro. That’s the magical (and real) number the Italian bank Banca de Monte Paschi has to be worried about. 15 Billion Euro is the approximate amount its customers have withdrawn from their bank accounts since January.
Submitted by Giulio Meotti via The Gatestone Institute,
With the ECB snubbing Italy on Friday, and refusing to grant insolvent bank Monte Paschi more time to find a financial rescue, it was of paramount urgency for Italy to announce a replacement government that of outgoing prime minister Matteo Renzi, in order to mitigate concerns about the ongoing political chaos. As a result, on Sunday, Italy’s President Sergio Mattarella asked departing Foreign Minister Paolo Gentiloni - a loyalist from Renzi's Democratic Party - to form a new government, in the process hopefully bringing to a close a political crisis triggered by a ‘no vote’ in a referendu