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FOCUS: EU Governments Seek Power To Take Over Failing Banks

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posted on Jul, 13 2009 @ 10:52 AM
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FOCUS: EU Governments Seek Power To Take Over Failing Banks


online.wsj.com

BRUSSELS (Dow Jones)--European governments, faced with a rash of bank failures, are moving to bolster their powers to take over troubled financial institutions that might cripple the economy if they are allowed to go bankrupt.
The moves are intended to defray the cost of future bank failures and reduce their threat to the wider financial system. But the proposed new powers have raised questions about whether property rights are being appropriately protected and whether the threat of nationalization could increase the cost of funding for all banks.
A few of the 27 European Union governments
(visit the link for the full news article)




posted on Jul, 13 2009 @ 10:52 AM
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It appears that nationalizing the banks and monetary system isn’t just an American problem but in the EU as well. I have absolutely zero faith that bank nationalization, even if temporary can solve the banking crisis. Soon it may be a Globalization of the banking systems.


An analysis of the new law prepared by the U.K. Treasury identifies various concerns of regulators. Among them are whether these laws violate property rights in the European Convention on Human Rights, and whether the threat of nationalization could make investors hesitant to lend to banks, thereby increasing the cost of bank funding



online.wsj.com
(visit the link for the full news article)



posted on Jul, 13 2009 @ 10:58 AM
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All this is showing that the predictions of another global market crash is not base on opinions is a fact and now we can see how bad financially banks are doing all over the world.

The EU will have not other choice but to get in the US wagon train of nationalizing their falling banks or face a another financial crash.

It has been predicted that we may be in another crash by the fall, already talks of US stimulating the markets (I mean the economy) is in the air.

The US can not longer survive without stimulus and it seems that the EU will be in same position.

Or face a crash, one that is over do and should be allow to happen.



posted on Jul, 13 2009 @ 11:28 AM
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reply to post by marg6043
 


I expect another big crash too. Gravity is still at work. This will dilute the shareholders and set off another big sell off. The 2 economies seem tied together.

Here we have FDIC deposit protection. I'm not familiar with bank terms is the EU.

Another problem s FDIC doesnt have enough money to cover it if lots of banks go belly up at once.

I also wonder if the EU will also start printing money. I hope not look at us here.



posted on Jul, 13 2009 @ 01:15 PM
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reply to post by wonderworld
 


As long as the FDIC is backed by the treasury department and the treasury department can print money the banks that they protect should be fine, but don't ask how much they are worth because the money the Treasury is printing lately is worthless.




posted on Jul, 13 2009 @ 01:29 PM
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Originally posted by marg6043
All this is showing that the predictions of another global market crash is not base on opinions is a fact and now we can see how bad financially banks are doing all over the world.

The EU will have not other choice but to get in the US wagon train of nationalizing their falling banks or face a another financial crash.


They are going to fail anyway. The system is deliberately sabotaged to make it collapse. There are various reasons, one being that it is a mostly effective weapon against China and other enemies as well as increased power and wealth for the elite, but the most important reason is the need for a tighter controlled global financial system. The West wants to maintain its current power position. The Dollar bubble is about to burst and hence, needs to be replaced before an union of other countries does so. Tighter control of the financial system globally, means more power. The EU is a blueprint for a bigger union to come, consisting of Northern America, Europe and possibly some other countries.



posted on Jul, 13 2009 @ 01:40 PM
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reply to post by marg6043
 


Yes and this printing of all this worthless money will soon lead to inflation. Interest rates may get as high as 15% and hope it stops there! Otherwise we could be looking at hyperinflation.



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