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German Banking

 
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dknoester
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PostPosted: Thu Feb 14, 2008 9:16 am    Post subject: German Banking Reply with quote
Rescue plan to save Deutsche Industrie Bank

"Germany faced its "Northern Rock moment" last night as top ministers and bankers thrashed out a rescue plan to save IKB Deutsche Industrie Bank, fearing a "bank tsunami' if the struggling lender was allowed to fail."

http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/02/14/cnikb114.xml

DK
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diesel
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PostPosted: Fri Feb 15, 2008 4:43 am    Post subject: Reply with quote
And this from rueters

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL1364387820080213

Quote:
German banks have borrowed heavily from the European Central Bank's liquidity window, taking up 46pc of the total €430bn in December, although they account for just 26pc of the eurozone's asset base. The confidential data was revealed this week by Spain's government, irked by reports that Spanish banks have been on an ECB drip-feed.

The escalating credit crisis in Europe comes amid ever clearer signs of an economic downturn. Industrial production in the eurozone fell 0.2pc in December, with a plunge of 4pc in Italy.


If Europes own subprime in Eastern Europe delivers a second hit here, Europe may well take a knock out punch it cant get up from...
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