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Bank of Italy Bails Out Four Banks



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Join date : 2013-01-12

Bank of Italy Bails Out Four Banks

Post by Lobo on Mon 21 Dec 2015, 10:39 am

Bank of Italy Bails Out Four Banks

Posted on December 21, 2015 by Martin Armstrong

The European banking crisis is brewing. Last month alone, the Bank of Italy poured €3.6 billion euros into Banca Marche, Banca Etruria (PEL.MI), CariChieti, and CariFeto to prevent their collapse. The money was funded by financing from healthy banks. This is precisely how the banking crisis began in Austria back in 1931. They took a healthy bank and forced it to absorb a failed one, which was far worse than anyone realized as it took down all the banks.
This entry was posted in Current Events, Europe's Current Economy and tagged Bank Bailout, Bank of Italy, Italy by Martin Armstrong. Bookmark the permalink.

    Current date/time is Sun 23 Oct 2016, 6:57 pm