European Banking – It Is Getting Scary

World Gold News

The past week was not only characterized by US equity markets making one all-time high after another. Much less excitement was associated with one frightening message after another related to the state and prospects of the (European) banking sector.

On Thursday, Reuters announced that G7 finance chiefs are coming together to discuss a bank reform push. We do not know the real agenda and underlying motives of the G7 meeting but put in our own simple words: this stinks. Reuters writes: “Some of the world’s most powerful finance chiefs will meet on Friday and Saturday to try to speed up banking and finance reforms, with Cyprus’ near meltdown fresh in their minds.” Today, Saturday May 11th, a reaction appeared on Reuters in which the German finance minister points to Japan being the big risk. Weren’t the talks supposed to be about the banking reform in Europe? Apparently there…

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One thought on “European Banking – It Is Getting Scary

  1. Oh darn the European Union caught that conspiracy flu too. Must be really contagious honey!

    Sent from my iPhone

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