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german banking bail-out?

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german banking bail-out?

Postby supporttheunderdog » Thu Apr 04, 2013 3:04 pm

It appears one of the largest German banks may have a 12bn hole in its accounts and may need a bail out

http://www.huffingtonpost.com/2012/12/05/deutsche-bank-12-billion-losses_n_2247360.html

http://dealbook.nytimes.com/2013/04/04/german-authorities-are-said-to-investigate-deutsche-bank/

If there is a bale-out will the depositors etc. there have a haircut on their savings and investments?
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Re: german banking bail-out?

Postby Maximus » Thu Apr 04, 2013 3:11 pm

supporttheunderdog wrote:It appears one of the largest German banks may have a 12bn hole in its accounts and may need a bail out

http://www.huffingtonpost.com/2012/12/05/deutsche-bank-12-billion-losses_n_2247360.html

http://dealbook.nytimes.com/2013/04/04/german-authorities-are-said-to-investigate-deutsche-bank/

If there is a bale-out will the depositors etc. there have a haircut on their savings and investments?


Dragi is speaking on Bloomberg now and he is saying that the Cypriot bail-in is not a template for future scenarios.

We keep hearing that Cyprus is a special case.
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Re: german banking bail-out?

Postby bill cobbett » Thu Apr 04, 2013 3:12 pm

Also covered by the NY Times which repeats allegations of Deutsche Bank hiding a huge hole in its finances and adds of also being involved in Interest Rate Manipulations...

http://dealbook.nytimes.com/2013/04/04/ ... sche-bank/
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Re: german banking bail-out?

Postby bill cobbett » Thu Apr 04, 2013 3:15 pm

Also on Reuters who say...

(Reuters) - Germany's Bundesbank and financial watchdog Bafin are conducting an in-depth probe of Deutsche Bank AG's accounts over allegations that it failed to correctly value a derivatives portfolio, sources familiar with the investigation said.

Two of the sources said on Thursday that Germany's central bank was reacting to accusations that Deutsche Bank had incorrectly valued credit derivatives from 2007 through 2010, allowing it to hide as much as $12 billion in losses.


http://www.reuters.com/article/2013/04/ ... 9620130404
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Re: german banking bail-out?

Postby Paphitis » Thu Apr 04, 2013 3:23 pm

I have a theory that all Germans are just lazy good for nothing so and sos and have no one else to blame but themselves.

Maybe Merkel should introduce a Cyprus style levy to all accounts above 100,000. :D

Should work a treat!
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Re: german banking bail-out?

Postby bill cobbett » Thu Apr 04, 2013 3:27 pm

oh and the economic news from today... near stagnation in Germany and further contractions in France...

According to the BBC...

Germany's economy slowed to "near stagnation" last month, while France's recorded its biggest contraction for four years, according to a closely watched survey.

... and Bloomberg reports that Draghi of the ECB is contemplating another round of back-door quantitative easing to help them out...

They range from an interest-rate cut to a new round of long-term loans to banks, to a plan to encourage lending to companies, three officials with knowledge of the deliberations said. They stressed that such action may not be announced today.

... so the Frankfurt Printing Presses will be rolling for a third time to help out German and French Banks... but they won't help out CY Banks in the same way...!!!
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Re: german banking bail-out?

Postby Paphitis » Thu Apr 04, 2013 3:33 pm

bill cobbett wrote:oh and the economic news from today... near stagnation in Germany and further contractions in France...

According to the BBC...

Germany's economy slowed to "near stagnation" last month, while France's recorded its biggest contraction for four years, according to a closely watched survey.

... and Bloomberg reports that Draghi of the ECB is contemplating another round of back-door quantitative easing to help them out...

They range from an interest-rate cut to a new round of long-term loans to banks, to a plan to encourage lending to companies, three officials with knowledge of the deliberations said. They stressed that such action may not be announced today.

... so the Frankfurt Printing Presses will be rolling for a third time to help out German and French Banks... but they won't help out CY Banks in the same way...!!!


That all sounds fine and dandy but why were these measures ruled out for Cyprus?

Bill, I think there is an opportunity for Cypriot bank account holders over 100,000, Laiki and BoC to commence legal proceeding against the ECB.
Last edited by Paphitis on Thu Apr 04, 2013 3:36 pm, edited 1 time in total.
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Re: german banking bail-out?

Postby Tim Drayton » Thu Apr 04, 2013 3:35 pm

supporttheunderdog wrote:It appears one of the largest German banks may have a 12bn hole in its accounts and may need a bail out

http://www.huffingtonpost.com/2012/12/05/deutsche-bank-12-billion-losses_n_2247360.html

http://dealbook.nytimes.com/2013/04/04/german-authorities-are-said-to-investigate-deutsche-bank/

If there is a bale-out will the depositors etc. there have a haircut on their savings and investments?


More to the point, will their banking model be deemed 'unsustainable'?

Interesting fact: In Germany, the tax system is so complicated that almost everybody has to use the services of a tax consultant (Steuerberater) to advise them on tax matters and file their tax returns. There are apparently hundreds of thousands of such people in Germany. On the other hand, tax in Cyprus is so simple that I am able to complete my annual income tax form by myself within 1-2 hours, and the system is very transparent and easy to understand.

Is it really sustainable to have this huge army of highly paid consultants doing work that adds no value to the economy?
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Re: german banking bail-out?

Postby Maximus » Thu Apr 04, 2013 3:36 pm

Paphitis wrote:I have a theory that all Germans are just lazy good for nothing so and sos and have no one else to blame but themselves.

Maybe Merkel should introduce a Cyprus style levy to all accounts above 100,000. :D

Should work a treat!


They should also stop laundering money and reduce the size of their banking sector.
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Re: german banking bail-out?

Postby Oceanside50 » Thu Apr 04, 2013 3:52 pm

Maximus wrote:
supporttheunderdog wrote:It appears one of the largest German banks may have a 12bn hole in its accounts and may need a bail out

http://www.huffingtonpost.com/2012/12/05/deutsche-bank-12-billion-losses_n_2247360.html

http://dealbook.nytimes.com/2013/04/04/german-authorities-are-said-to-investigate-deutsche-bank/

If there is a bale-out will the depositors etc. there have a haircut on their savings and investments?


Dragi is speaking on Bloomberg now and he is saying that the Cypriot bail-in is not a template for future scenarios.

We keep hearing that Cyprus is a special case.


We keep hearing that Cyprus is a special case.


:lol: :lol: :lol:
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