Strap Yourselves In This Could Be The Big One!!!

[Jack Knave]

https://euobserver.com/tickers/135277


Deutsche Bank is not in line for a rescue package, German finance ministry spokesman Martin Jaeger has said, after growing speculation that the bank could buckle under multi-billion euro fines. “The German government is not preparing a rescue plan, and there is no reason for such speculation,” he told press in Berlin. The bank is Germany's biggest lender, and its troubles raised concerns that Europe could face another systemic crisis.


Deutsche Bank are massive if they go under and all hell could break loose. And if they bail the bank out the German people will revolt.

[Brownie]

Very bad scene, seems all too familiar.
On a slightly more personal note I have a very good German friend who worked for Deutsche Bank in London until she retired and am wondering if her generous pension will be affected.  No doubt I will find out in due course - she chose to stay in England after retirement having lived here for yonks.

[Hope]

Deutsche Bank are massive if they go under and all hell could break loose. And if they bail the bank out the German people will revolt.

I suspect ther German people will revolt if it isn't bailed out, as well, because of the amount of money it holds on their behalf.  Does Germany have the equivalent of our safety net - up to £75K per bank for accounts you hold will be refunded if a bank goes belly up?

[Nearly Sane]

If it goes it's a financial tsunami. It's not just your friend's pension that is affected, Brownie. Glad I have sorted the cave I need to live in.

[Brownie]

I hope I have mine sorted too NS, not quite sure though.  Eeeek.

[Nearly Sane]

You are welcome mine, Brownie. Password - religion and ethics

[Hope]

I'd be quite happy to go and hibernate in the Himalayas for a few decades   

[Brownie]

You can keep that, Hope.  My cave must have heating and hot water.

[Jack Knave]

I suspect ther German people will revolt if it isn't bailed out, as well, because of the amount of money it holds on their behalf.  Does Germany have the equivalent of our safety net - up to £75K per bank for accounts you hold will be refunded if a bank goes belly up?

That £75k sum is a EU policy, but bail-ins are now legal which means they can take a cut of your money if they have 'liquidity' problems. Cyprus found this out the hard way, but I'm guessing this only starts for sums greater than £75k.

[Jack Knave]

If it goes it's a financial tsunami. It's not just your friend's pension that is affected, Brownie. Glad I have sorted the cave I need to live in.

Hey!, that's my cave!!!