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Germany on a Knife Edge: Italian Referendum Sparks Panic Over Deustche Bank’s Future

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  • Germany on a Knife Edge: Italian Referendum Sparks Panic Over Deustche Bank’s Future 
    by LANA CLEMENTS, http://www.express.co.uk/
    DEUTSCHE Bank’s share price tumbled further during Tuesday trading, as fears escalated for the lender’s future ahead of Italy’s referendum on Sunday.

    Investors have dumped stock in Germany’s largest bank, taking its price down almost one per cent today, and by more than three per cent over the the last five trading sessions. Deutsche has already lost almost half its value this year, as markets fret over the bank’s weakness and a looming fine from US authorities.

    The troubled lender is now looking vulnerable to shocks set to rip through the eurozone if Italy’s Prime Minister loses a vote over Constitutional Reform on Sunday, said experts. It’s feared Italy’s banking sector could topple if leader Matteo Renzi is forced to resign.

    Contagion could then spread through to some of Europe’s most systematically important banks, such as Deutsche, which already look fragile, experts warned.
    As a result, the referendum has caused markets to question whether the German government would step in and save Deutsche, should it need help.

    Similar worries surfaced earlier this year, after comments from Angela Merkel confirmed she would not approve a state-backed rescue of banks. This year Deutsche has sold assets and axed jobs, as part of a huge cost-cutting programme aimed at shoring up its position. But investors are not convinced it is enough to stabilise the bank.

    read more.
http://www.express.co.uk/news/politics/736963/Italy-Matteo-Renzi-Italeave-EU-European-Union-Five-Star-Movement-Berlusconi-politics-Euro

Click on image for article.

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November 30, 2016 - Posted by | Economics | , , , , , , , ,

1 Comment »

  1. Hat dies auf behindertvertriebentessarzblog rebloggt.

    Comment by Senatssekretär Freistaat Danzig | November 30, 2016 | Reply


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