Europe – Italy

Bailout Rebellion In Germany

by Wolf Richter •  • Comments Off on Bailout Rebellion In Germany

“We’re on the way to a worldwide financial dictatorship governed by bankers,” said Peter Gauweiler, German Member of Parliament. “We don’t support Greece. We support 25 or 30 worldwide investment banks and their insane activities.”

Germany, Model Economy Du Jour

by Wolf Richter •  • Comments Off on Germany, Model Economy Du Jour

All Tax And No Play. But they still can’t balance their budget or bail out Italy.
While we’re having all the fun.

Hatchet Jobs

by Wolf Richter •  • Comments Off on Hatchet Jobs

The litany of layoffs among the largest banks continues. And it’s ugly. After announcements and rumors from Wall Street, the first European banks have come out to air their dirty laundry. And now, per the Financial Times, Royal Bank of Scotland (RBS) is adding 2,000 layoffs to the list. 63,000 by eight European banks so far. Something big is afoot.