Deutsche Bank Going Bankrupt Could DESTROY EU And Tear Down World Economy, Warns Jim Rogers
- Deutsche Bank Going Bankrupt Could DESTROY EU And Tear Down World Economy, Warns Jim Rogers
by LANA CLEMENTS, http://www.express.co.uk/
TROUBLED Deutsche Bank will collapse and tear down the world’s financial system, if US authorities refuse to relax a £10billion fine, according to financial commentator and investor Jim Rogers.
Germany’s biggest lender is desperately trying to negotiate down the huge financial penalty imposed on the bank for mis-selling mortgage-backed securities. So far the group’s boss John Cryan has not been able to secure an agreement for a smaller fine. There are only two paths from here, according to Mr Rogers. He told Russia Today (RT): “Either Deutsche Bank goes bankrupt, which is going bring down the entire world financial system, or they are going to come up to some kind of compromise at a lower number.” And if Deutsche Bank does fails, it would mean the end of the European Union (EU), predicts Mr Rogers.
He said: “The EU would disintegrate, because Germany would no longer be able to supportit, would not want to support it. “A lot of other people would start bailing out; many banks in Europe have problems. “And if Deutsche Bank has to fail – that is the end of it. In 1931, when one of the largest banks in Europe failed, it led to the Great Depression and eventually WWII. Be worried.
“Germany has been rightly telling everybody not to bail out their banks, but if they have to suddenly bail out their banks, then other countries will be furious and the politicians will have a field day.”
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