QUESTION: Marty; There is talk that Britain will join NAFTA rather than the EU. Does that make sense? What do you think? Continue reading
Tag Archives: Banco Popular
It Begins: One European Bank Fails, Another One Needs An Urgent Cash Injection!
Interesting news this week as Belgium-based Optima Bank has been shut down by both the National Bank of Belgium (which also acts as the Belgian regulating body) as well as the ECB. According to the national supervisor, the bank would have been unable to meet its commitments to its clients and was forced to cease all banking activities after some potentially fraudulent transaction were unveiled.
It’s surprising to see the main media have tried to keep this silent as even the website of the National Bank of Belgium didn’t bother to issue the press release in English (whereas all other press releases on the home page can be read in English). There’s no statement from the ECB either, nor has this news been translated on the English version of website of the state-owned national television station. Continue reading
Eurozone RUPTURE: Now SPAIN threatens to tear EU apart as banks LOSE €1.4BILLION in a day
PANIC over the stability of Spanish banks hit fever pitch yesterday, exposing yet another rupture in the financial system holding the eurozone together.
Banco Popular, one of the Spain’s leading financial firms, caused mayhem after admitting that it needed billions to bolster its balance sheet.
Shocked investors dumped shares in the firm, with the bank stock’s value plunging by 24 per cent this morning, after the cash call and plans to issue another 2 billion shares.
It resulted in €1.4billion being wiped off the value of the bank’s share price.
