Deutsche Bank COLLAPSE Fear: Britain Needs to Leave EU Quickly, Report Shows
- Deutsche Bank COLLAPSE Fear: Britain Needs to Leave EU Quickly, Report Shows
by DAVID MADDOX, http://www.express.co.uk/
A NEW report has added to the pressure on the Government to get Britain out of the EU quickly highlighting how the UK taxpayer could be in hock for billions of pounds if the Deutsche Bank collapses.
With Germany’s biggest bank teetering, a private meeting of major investors in London yesterday discussed offloading their assets in the troubled financial giant. The potential collapse could trigger an economic catastrophe in the EU with Deutsche Bank’s holdings worth two thirds the size of the entire German economy, 25 times bigger than Northern Rock which set off Britain’s 2008 financial crisis when it collapsed.
With a rearguard of so called “Remoaner” MPs try to delay triggering Article 50 and getting Britain out of the EU, a report by thinktank Global Britain has highlighted that unnecessary delay could cost that taxpayer billions.
The report – ‘The Deutsche Bank liability’ – written by Bob Lyddon, a City management consultant with considerable experience of the banking sector, explains why Deutsche Bank is in trouble and how the UK could be stung for billions of pounds.
It notes that the bank cannot get itself easily out of trouble because of the eurozone economy which prevents it from raising private capital and makes it unattractive to outside investors. Its share value has plummeted by 61 per cent in the last two years which means it can only “create investment” by cutting costs, according to the report.