Well Pierre’ – yes fully aware of the commotion on the Italian banks and their non-performing loans.
But please speak to an Italian ‘in the know’ and their comment would be “what’s new?”
Yes regret to inform all and sundry it is nothing new – I was amazed with the countries Debt to GDP ratio a few years back – after the research realized that for some reason this country just plods along with these debts – so ‘what’s new?’
Now of Deutsche Bank – yes derivative exposure high and share price low – not single digit yet!
When at single digit time to panic.
But I fear two things will happen – Germany will stand behind the Bank – as Switzerland did with Credit Suisse – or the European Central Bank will intervene in all European banks.
Yes they are all interconnected.
Edit – spelling ‘Deutsche’ – to err is human