EU Banks Need $166 Billion, Deutsche Bank Economist Tells Welt

Let us not forget about the monstrous derivative exposure of Deutsche Bank: $72.8 trillion. They’re looking like the next Lehman Brothers.

Video available for viewing at website.

 

Europe urgently needs a 150 billion-euro ($166 billion) bailout fund to recapitalize its beleaguered banks, particularly those in Italy, Deutsche Bank AG’s chief economist said in an interview with Welt am Sonntag.

“Europe is extremely sick and must start dealing with its problems extremely quickly, or else there may be an accident,” Deutsche Bank’s David Folkerts-Landau said, according to the newspaper. “I’m no doomsday prophet, I am a realist.” Continue reading

Deutsche Bank Economist: The Fed Is in Danger of Making a Mistake of Historical Proportions

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David Folkerts-Landau, global head of research at Deutsche Bank, says that staying at the zero bound of monetary policy for any longer would be a historic mistake. Continue reading